Green Bay Packers Record Profit Of $54.3 million, Up 26 Percent
July 16, 2013 05:00 PM
The information also shows how the now 2-year-old collective-bargaining agreement is delivering substantial returns to NFL ownership.
The Packers reported a record profit from operation of $54.3 million for the 12-month period ending March 31, 2013, a 26 percent increase from the $43 million the year before. Additionally, in the two seasons that preceded the CBA that was signed in August 2011 after a protracted labor struggle, Packers net income totaled $22.3 million. In the two seasons since, it has totaled $85.8 million.
Team revenue hit a record of $308.1 million, with national revenue from the league hitting $179.9 million. That national figure was up 8.3 percent, which Murphy ascribed to new NFL Network carriage deals and the league’s new Nike contract.
Locally, revenue declined 2.2 percent to $128.2 million, though Murphy cautioned that is still very high historically for the Packers. And with renovations continuing at Lambeau Field, including the addition of 7,000 seats, the local figure looks sure to climb again.
Packers profits are reinvested into those renovations as well as community and charitable purposes. It also goes into reserves, which now stand at $254 million.
The Packers are the only NFL team to report its financial results. The league’s other 31 teams are not public entities, while the Packers are quasi-public. Shareholders own the team, but the shares do not trade on an exchange. The annual release of financial information is the only time the team discloses such figures.