Jul 11, 2012
Shareholders looking to find out how the state of the NFL’s only publicly traded team need not worry.
The Green Bay Packers are doing just fine.
Ahead of the Packers July 24th shareholders meeting, information regarding the Packers finances has been posted by Don Walker at the Journal Sentinel. For the fiscal ending March 31st, the Packers reported a net income of $42.7 million, up 62% from last year’s net income of $25.6 million.
Profit from operations increased to $43 million (an increase of $31 million), while net profit from operations totaled $27.9 million, a $20.1 million dollar increase.
Anyone remember last year when both the NFL and the NFLPA were using the Packers numbers as a benchmark to justify why their side needed to receive more money under the new collective bargaining agreement?
The Packers set financial records for net income, profit from operations, total revenue ($302M, up 19.4M) and local revenue ($130.4M up $11.1M). Team President Mark Murphy said that the team’s record-breaking financial year was due in large part to their Super Bowl XLV victory over the Pittsburgh Steelers.
“I think that along with the 15-1 regular season really spurred us on,” Murphy said.
The team also set records for physical-store and online sales, and attendance records for their Lambeau Field tours, while reducing their expenses by $11.5 million dollars.
“What I would say is that the profits have been very positive and we are really excited about it because we are investing those profits in the stadium and we are improving the fan experience through our renovation,” Murphy said.
But what all can be gleaned from this information? Honestly, not much. We do know that the Packers probably moved further up the ladder as far as NFL team revenue rankings, and we know that at least one team seems to not only be surviving in the NFL’s new collective bargaining agreement era, but thriving. Of course, it would be easy to argue that the Packers, one of the NFL’s most popular teams, are the proper benchmark for CBA-success. All we can really guess from these numbers is that the NFL has some teams that are doing very well for themselves.
For now, though, that’s more than enough.