Saskatchewan Roughriders report a loss of $7.5M due to the pandemic

The Saskatchewan Roughriders Football Clubreported a significantloss of $7.5 million for2020-21on Saturday, after the COVID-19 pandemic forced the cancellation of the 2020 CFL season.

The club reported a much smallernet loss of $210,064in 2020.

The Riders' latest financial report was initially presented at the club's2020-21annual general meetingon June 23, which was held virtually.

According to the report, the cancellation of the Canadian Football League's 2020 seasonled to a dramatic 74 per cent drop in the club'stotaloperating revenues.

Revenues dropped to $10.3 million in 2020-21 from$39.6 million in 2019-20.

The club said that ofthe $10.3 million recorded in revenues, $3.9 million was related to federal government programs, such as theCanadian employment wage subsidy and theCanadian emergency rent subsidy.

Meanwhile, operating expensesdecreased to $18.7 million from $39.7 million in the year prior. The club says the reduced costs were due to the cancelled season andexpense savings across all areas, including a more than 30per cent reduction in employees and pay cuts.

A shortened 2021 season is set to start in early August for the Roughriders.

Earlier this month, theCFLreleased a 14-game schedule that will end with the 108th Grey Cup championship in December.

The Riders' first game will take place at Mosaic Stadium in Regina on Aug. 6 against the B.C. Lions. It will be the first of three consecutive home games for the Regina-based team.

Going forward, the club saidit is facing a$6 millioncash-flow deficitfrom its operations. That number is projected to increase in 2021 as the Riders recover from the pandemic.