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CFL earmarks $5 million of Canadian government interest-free loan request for player salaries

The Canadian Football League has presented its financial plan for the interest-free loan request from the Canadian government.

According to Canadian Press reporter Dan Ralph, the new CFL ask to the feds is for $30 million total, $28 million of which would fund a shortened 2020 season.

The rest of the money breakdown from Ralph:

Approximately two-thirds (or about $19 million) would go towards covering player salaries and operation of the CFL bubble in Winnipeg, its tentative hub city. Roughly half the overall total (or around $14 million) would be allocated for hub-city costs like food and lodging, testing and buses for players, coaches and support staff.

That’s a great return on investment for the Manitoba government. It included $2.5 million in its bid to the CFL for Winnipeg to be the league’s tentative hub city.

Around $5 million would go to player salaries. However, the CFL would reportedly make up any shortfall in the payment of its players.

An estimated $5 million would be for coaches and support staff. Roughly $4 million would be available to take care of incidental costs.

The most important part of the cash allotment is the players part. That’s because even if the funds are provided by Ottawa, the league and CFL Players’ Association would have to agree on a COVID-19 collective bargaining agreement.

In the initial offer sent to the CFLPA, the league offered players 33 percent of their base salary and performance bonuses for a potential six-game season. For that proposal the CFL would still have to pay over $10.7 million out of their own pocket in compensation to its athletes.

However, it’s likely to be a bigger number because the union membership was surveyed by the CFL Players’ Association, and according to 3DownNation insider Justin Dunk, over 85 percent of players voted no to the financial aspect. Proper player pay could be the key if the massive government ask is approved.

Although, for any monetary negotiations to start with the players, the CFL requires an answer from the Canadian government.

Source: 3downnation.com