If you go by the Stampede chuckwagons, it appears Calgary’s economy is racing along nicely.
The Calgary Stampede canvas auction saw a record $6.1 million collected from sponsors, which is about $2 million higher than the year before.
The money secured partnerships for 27 drivers at this year’s Rangeland Derby during the Stampede, which begins July 3.
The top bid was $550,000 by Bar L5 Ranch for driver Rae Croteau Jr.
The annual event sees sponsors put up money to advertise on the chuckwagons in the festival’s signature race.
The auction is viewed as a bellwether of the oil city’s economy as many of the sponsors are from the energy sector.
"It’s a shocker, but it really shows the strength in Alberta, in the sport and in what the Calgary Stampede does,” said Croteau Jr. of the Thursday night bidding.
“This kind of support sets you up for the year. It’s not just the races, it’s the off-season, too — buying horses, building depth, sourcing feed — it even helps get the kids to hockey in the winter."
Picture Courtesy: THE CANADIAN PRESS/Jeff McIntosh
