Group Created with Sketch.
Volume 24 No. 117
  • Created with Sketch.
  • Created with Sketch.
  • Created with Sketch.

Packers Set Revenue, Profit Records, With Lambeau Field Addition To Give Further Boost

The Packers had "another profitable season last year, setting franchise records for net income, revenue and profit from operations," according to data cited by Don Walker of the MILWAUKEE JOURNAL SENTINEL. The financial future "is also bright, with the team poised to open a new 7,000-seat addition in the south end-zone area this season" at a cost of $146M that is "expected to generate new revenue equivalent to an extra home game at Lambeau Field." Packers officials yesterday said that for the fiscal year ending March 31, net income increased 1% to $43.1M, and profit from operations jumped 26.4% to $54.3M. Total revenue went up 2% to $308.1M. All "are franchise records." Packers VP/Finance & Administration Paul Baniel said that the team's corporate reserve fund, which "includes the old Packers Preservation Fund, had gone up from" $246M to $254M. Total team expenses were $253.8M, down $5.2M from the previous year. National revenue was up 4.9% to $179.9M. That "includes national television revenue, which was not broken out in the Packers' report." Packers President & CEO Mark Murphy said that NFL teams "benefited from a new deal with Nike and carriage fees paid by cable television systems" for NFL Network. Local revenue -- the amount of money "generated from team operations -- was down 1.7%," from $130.4M to $128.2M. The report also showed that "work is under way" on the $140.5M Atrium renovation at Lambeau Field, which will see the Pro Shop "double in size" (MILWAUKEE JOURNAL SENTINEL, 7/17). In Green Bay, Richard Ryman reports the Packers "severely curtailed the information released, compared to what they made available since at least their request for public financing of the 2003 Lambeau Field renovation." The bottom line "could have been larger," as the Packers "increased their donation to the Packers Foundation" from $3M to $5M and, like all NFL teams, contributed $2M to a player health and safety research fund. Packers Treasurer Mark McMullen said that the goal is to get $20M "into the Packers Foundation," which currently has $14M (GREEN BAY PRESS-GAZETTE, 7/17).

Profit from operations
Player costs
Net income