OH CANADA! BLUE JAYS LOSING MONEY JUST BY LIVING UP NORTH
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).