Lambeau Field as it looks this week. packers.com photograph

Packers report record profits once again

 

When the Green Bay Packers shareholders attend the annual meeting next week at Lambeau Field they will once again hear good news.

Not only has the team locked up their two top players – Aaron Rodgers and Clay Matthews – to long-term contracts, but the newly constructed addition of nearly 7,000 new seats in the south end zone of Lambeau Field will be on full display.

But even more importantly, the Packers shareholders will hear that the Packers, the 18th-ranked sports team in overall value, has reported an operations profit of $54.3 million. Now, that’s impressive for a franchise operating in the league’s smallest city. While the team’s net profit was $43.1 million this year (in comparison to the $2.7 million made last year) the team also had total revenue just over $300 million.

The reason for the record profits? It’s because the player costs fell from $155 million in 2011-12 to $136 million this past year.

And though the Packers just committed well over $100 million to Rodgers and Matthews, those numbers won’t start to be counted until next year.

In other financial news provided by the Packers today, it was announced that local revenue dropped by 2 percent to $128.1 million, but that was made up in national revenue – the shared revenue between all teams. Those numbers rose 5 percent, to $179.9 million.

Overall, the numbers are looking good for the Packers and with the revenue stream from the new seats being sold starting this year, as well as other capital investments the team is planning (the refurbishing of the Atrium) it looks as though the team will be in good financial shape for the near future.

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Tags: Annual Profits Green Bay Packers Shareholders Meeting

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