Toronto 
THE CANADIAN PRESS/Cole Burston
The Canadian National Exhibition says a summer without midway rides, deep fried butter and concerts at the bandshell have put the future of the annual Toronto event in serious jeopardy.
Organizers behind the 141-year-old fair said Thursday that cancelling the CNE’s in-person events this year to help stop the spread of COVID-19 has resulted in a $6-million loss and could deliver a 95-per-cent drop in projected revenue and $35 million in lost potential earnings.
Without significant financial investment and relief, the long-term economic viability of Canada’s largest fair is uncertain beyond next year, warned the CNE.
“The situation could become very dire if we are not able to hold (the CNE) in 2021,” said executive director Darrell Brown.
“Any time you have an entity that relies on a few days in the year to generate most of its revenue, you’re susceptible obviously and the CNE is no exception.”
There’s a lot at stake, he added.
The CNE generates $128 million in economic activity for the province annually, employs about 5,000 event workers every year — about 21 per cent of them with disabilities — and hosts between 1.4 million and 1.6 million people annually.
The event is making due this year by cutting back expenses by 85 per cent and hosting online activities including a talent competition, gaming tournament and tutorials on how to busk or make CNE favourites like 99-cent spaghetti or rainbow grilled cheese.
It’s not charging for access to any of the activities.
The CNE is also in the process of securing a loan under the federal Business Credit Availability Program, is seeking lease payment deferrals and has tapped into COVID-19 economic support programs to help bridge its financial gap.
However, the loan will have to be repaid and alternate revenue sources found.
If they pay off what they owe and source new revenue streams, they’ll also face depleted or no reserves for bad weather or worker strikes, which have impacted the CNE in the past, said Brown.
Ontario Premier Doug Ford said Thursday that it is “critical” to help out the event.
If the federal government and city of Toronto assist, he said he is willing to contribute too, but he did not promise the CNE any specific relief.
“Old guys like myself remember going down to the CNE with $5 or $10 and you’d be down there all day. I never forget that you’d get that 25 cent spaghetti…the Double Bubble bubble gum and the food court,” he said.
“It was fun and we need to help it because it’s something that we can’t let go of.”
Tara Deschamps, The Canadian Press
© The Canadian Press
