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OH CANADA! BLUE JAYS LOSING MONEY JUST BY LIVING UP NORTH
Published January 30, 1998
The Blue Jays "lost an estimated" C$30M in '97, and Larry Millson of the Toronto GLOBE & MAIL writes that "it had more to do with the falling Canadian dollar than their losing record and stagnant attendance." About C$20M of the losses "can be attributed to the difference between the U.S. and Canadian dollars." While the Jays do not reveal their losses or profits publicly, they "do acknowledge" that the "weak" Canadian dollar "hurts their bottom line." Millson: "The problem is that most of the Blue Jays' expenses are paid in U.S. money, including a player payroll that is about $50 million (U.S.), and most of their revenue is in Canadian dollars" (Larry Millson, Toronto GLOBE & MAIL, 1/30).