Stop the $30-$150 million handout to the CFL. Bell, Rogers and other owners don't need it.

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The Canadian Football League has an important economic impact in many communities across Canada.  It is largely for this reason that past governments have (very controversially) been convinced to cough up money to fund stadiums, such as $153 million in Saskatchewan despite the team making around $17 million in annual profits.

The league brings in $43 million annually from TV revenue and counts among its team owners Bell Canada and Rogers.  Other CFL team owners include multiple individuals with personal net worth of $1 billion+ and in the hundreds of millions in Toronto, Hamilton and Calgary alone.

Although nobody could have predicted the impact of covid, sports teams in Canada have had their share of ups and downs over the years.  In recent years though, owning a pro sports team has been increasingly profitable largely due to profits from TV revenue.  That is part of the reason the Raptors and Leafs for example are valued at over $3 billion combined.  

To add insult to injury, the CFL's "pitch" to the government does not even include paying the money back.  Instead, they proposed vague "in-kind" benefits such as "involving players in the community in charitable programs" that leaves not only the true value of such benefits in question but whether the government should be paying for many of these things at all. 

 

A BETTER SOLUTION:

If the owners of certain CFL teams face an immediate risk of being unable to continue operating due to covid-related losses, a LOAN (where money is paid back) might be an acceptable solution on a case-by-case basis.

However, the following misleading quote from the head of the CFL claiming that "accountability" is anything other than paying money back for money received is shameful.

"We want to be accountable to the government, we want to be accountable to taxpayers".

More details can be found here: https://www.sportsnet.ca/football/cfl/cfl-began-process-requesting-federal-assistance-april-2/