BREAKING LOSS: Edmonton Elks Confirms Devastating News
The Edmonton Elks have confirmed a significant financial setback, reporting an operating loss of $3.9 million for the 2023 CFL season. This marks the third consecutive year the team has faced financial difficulties, with cumulative losses now exceeding $15 million.
The Elks’ struggles on the field contributed to the downturn, as the team finished with a 4-14 record and missed the playoffs for the third straight year. The poor performance resulted in a substantial drop in ticket revenue, which fell by $1.4 million compared to the 2022 season.
Despite these setbacks, Elks board treasurer Kara Flynn reassured fans that the team has enough working capital to operate through the 2024 season. However, the organization is now exploring alternative ownership structures, including a potential transition to private ownership.
Board chair Tom Richards has confirmed that discussions are progressing, with a goal to finalize a new ownership structure by the end of the 2024 season or early 2025. The Elks remain committed to securing a stable future for the franchise amid these financial challenges.
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