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


CFL: CFL Gray Cup Championship-Hamilton Tiger-Cats vs Winnipeg Blue Bombers
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The Canadian Football League will not have a season in 2020. Due to the COVID-19 pandemic, the league was in a position where it needed a $ 30 million interest-free loan from the Canadian government in order to financially hold a season. This loan was refused on Sunday, according to TSN. League Commissioner Randy Ambrosie officially announced on Monday that the 2021 season has been canceled.

“Our league governors today decided that it is in the long term best interest of the CFL to focus on the future,” said Ambrosie. TSN reported. “We are absolutely committed to 2021, to the future of our league and to pursuing our vision of a bigger, stronger and more global CFL. “

The league was told on Friday that the government was not approving the funding. If approved, the plan was to split the loan with $ 20 million to pay gamers, $ 8 million for a hub in Winnipeg, and the remaining $ 2 million for a contingency fund.

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

“Even with government funding and a new CBA, our owners and community teams would have had to suffer significant financial losses to play in 2020,” Ambrosie said. “Without it, the losses would be so great that they would really hamper our ability to rebound strongly next year and beyond. What matters most is the future of our league.”

The CFL season was scheduled to start in June, but has been postponed indefinitely due to coronavirus concerns. It is now the first time since 1919 that the Gray Cup, the trophy awarded to the CFL champion, will not be presented.

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