Packers' Revenue Increases For 11th Straight Year To Record $321.4M

The Packers for FY '13-14 "reported a record" $321.4M in total revenue, 5.2% more than last year, though their $25.3M in net income is 41% less than the year before, according to a front-page piece by Richard Ryman of the GREEN BAY PRESS-GAZETTE. The decline in net income "was because they signed key players -- notably quarterback Aaron Rodgers and linebacker Clay Matthews -- during the fiscal year, which ends in March, and because they are beginning to absorb" more than $300M in expansion costs at Lambeau Field. Total expenses for the year were $298.5M, up $44.8M, from '12-13. Of that increase, $35M "was players costs" and $8M was "depreciation related to expansion projects." Total revenue has "increased every year since the Packers moved into the renovated Lambeau Field" in '03. Packers President & CEO Mark Murphy said that on-field success and "continued support from shareholders and fans is partly responsible, as was the addition of 7,000 seats to the stadium for the 2014 season ... and other income-producing developments." That includes the "leasing of land ... for a Cabela's store." Murphy added that looking "far into the future," a new indoor-practice facility to replace the Don Hutson Center "could be built in the east parking lot adjacent to Lambeau Field and the new Conditioning, Rehabilitation and Instructional Center." Continued "improvement of the plaza near the expanded Oneida Nation Gate also is possible." Ryman reports next week's opening of the "expanded Packers Pro shop will increase revenue." Packers VP/Finance & Administration Paul Baniel: "We do think there will be a several-million-dollars increase. Certainly on game days we'll be able to service more of our fans" (GREEN BAY PRESS-GAZETTE, 7/11).

NATIONAL AID: In Milwaukee, Rich Kirchen reported the revenue increase came "from two main sources." Murphy said that the Packers' share of revenue from NFL Network "was the main contributor" to a $7.8M increase in national revenue to $187.7M. He added that the south end zone addition "added about" $10M to local revenue through $8M in ticket sales and concessions and $2M in sponsorship revenue. The Packers' total revenue "ranks ninth among the 32 NFL teams" (BIZJOURNALS.com, 7/10). ESPN.com's Darren Rovell reported the national revenue dollars the Packers and the rest of the league's teams have received "continue to climb over the years, with the total pie up" 56%, factoring for inflation, since '06. The "most significant jump will happen next season, as new television deals with each of the league's partners, along with the new CBS Thursday Night package, pushes the league's media revenue from the networks alone to an average" of more than $5B a season. That "doesn't include" the league's $1B a year contract with DirecTV, which expires at the end of the '14 season and is currently being renegotiated (ESPN.com, 7/10).

THINK BIG: In Milwaukee, Don Walker notes Murphy "elaborated on the Packers' plans for the future for land it owns now west and south of Lambeau Field." He said that in the long term, the team "plans to call the development Titletown." Murphy: "In the coming years, you will see changes there. We have looked at a number of different things in and around the stadium that will be improvements that will help the organization, the fan experience and the local community." He added that the land owned by the Packers west of the stadium "would be targeted for development, while land now owned by the franchise south of the stadium would be used for stadium operations and possible football operations" (MILWAUKEE JOURNAL SENTINEL, 7/11).