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Mon August 24, 2009
Daddy of Em All having financial problems
Laramie, WY – Cheyenne Frontier Days is having some financial problems. Federal tax returns show the nonprofit rodeo lost 1.4 million dollars between 2006 and 2008.
This is all happening while the 10-day rodeo is bringing in big crowds. Last month C-F-D drew nearly 192,000 people, the best attendance since 1999. But a report shows the rodeo has been spending more than it has taken in for the last three years.
In 2006, CFD posted a $16,000 loss. In 2007, that jumped to almost $1 million -- $908,000. And last year the non-profit lost about $431,000.
Frontier Days officials say the rodeo simply has become more expensive to put on.
They say the losses were caused by higher prices for feed, fuel and performers, plus the cost of improvements such as a large screen for replays in the arena.
Frontier Days officials say a major rising cost has been musical headliners. Performers such as George Strait, Bon Jovi and Kenny Chesney in recent years haven't been cheap.
As costs have gone up, he said, the Frontier Days ticket prices have stayed about the same.
The rodeo has experienced deficits before.