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THIS IS NOT YOUR FATHER'S CFL AS TEAMS SET TO MAKE A PROFIT
Published August 6, 1997
Despite a slight decrease in attendance and TV ratings, the CFL is "on the verge of turning a record profit," according to Marty York of the Toronto GLOBE & MAIL. CFL sources said that the league is "anticipating" taking in "about" C$4M in TV, sponsorship and licensing revenue by season's end, to be distributed among the eight clubs. That revenue will be combined with the C$4M in NFL assistance this year, meaning "that each CFL club will be picking up" an extra C$1M. That C$1M for each franchise "represents megabucks -- enough to ensure that each organization will finish in the black for the first time in decades." League Chair & Acting Commissioner John Tory: "There is no doubt in my mind that the overall financial health of the CFL is better than it has been in a very long time. ... Under no circumstances ... will the league be writing out any cheques to bail out any of our franchises this year" York: "So delighted are CFL executives with the bottom line this season that it appears they have called off their search for a new full-time commissioner. ... It seems safe to conclude that Tory will continue to serve as a volunteer commissioner for the rest of this season at least" (GLOBE & MAIL, 8/6).