CFL Pass

Canadian Football League cancels 2020 season after being denied $30M government loan

The Canadian Football League will not has a season in 2020. Due to the COVID-19 pandemic, the league was in a position where it need a $30 million, interest-free loan from the Canadian government in order to financial hold a season. That loan was denied on Sunday, according to TSN. On Monday, league commissioner Randy Ambrosie officially announced that the 2021 season is canceled.

"Our league governors decided today it is in the best long-term interests of the CFL to concentrate on the future," Ambrosie said, TSN reported. "We are absolutely committed to 2021, to the future of our league and the pursuit of our vision of a bigger, stronger, more global CFL."

The league was informed on Friday that the government was not approving the funding. If approved, the plan was to divide the loan with $20 million going towards paying players, $8 million used for a hub in Winnipeg and the other $2 million going towards a contingency fund.

According to Ambrosie, the interest-free, government loan was the only way for a 2020 season to happen because of the financial state of the CFL. Before the COVID-19 pandemic, the CFL lost more than $20 million in 2019, according to TSN.

"Even with government funding and a new CBA, our owners and community-held teams would have had to endure significant financial losses to play in 2020," Ambrosie said. "Without it, the losses would be so large that they would really hamper our ability to bounce back strongly next year and beyond. The most important thing is the future of our league."

The CFL season was set to begin in June but was indefinitely postponed due to coronavirus concerns. This is now the first time since 1919 that the Grey Cup, the trophy given to the CFL champion, will not be awarded.

Source: www.cbssports.com




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