Very little about the NFL escapes public scrutiny these days with the notable exception of the financial records of the 31 privately held teams under no obligation to share that information.
The Packers are not privately held, however, and their annual report gives us an idea about how things are faring in bank accounts around the league. You won’t be surprised to hear that business is good.
The Packers reported a franchise-record $408.7 million in revenue for the fiscal year that ended on March 31 along with a record $48.9 million in net income and $75 million in profit from operations. Those last two numbers represented 68 percent and 91 percent jumps from the previous year.
Packers president Mark Murphy attributed an 11 percent increase in local revenue to $186.2 million to the success of business at the Lambeau Field atrium and strong sales/marketing programs. National revenues — money shared equally by the league’s teams — went up six percent to $222.6 million, which provides part of the picture of the financial outlook for the rest of the teams in the league.
Part of the reason for the rise in the team’s profits this year was a drop in expenses that the team attributed to “a league assessment related to debt refinancing” and the previous year’s spending on the Titletown project near Lambeau Field. Murphy said he did not expect to see the same profit margin next season as player expenses appear set to rise.
“We have a number of core players with contracts ending,” Murphy said. “We could have a number of signings next year, and the biggest thing there [on the balance sheet] is the signing bonuses.”
Even so, it’s a good bet that the professional football business will remain a financially rewarding one for the Packers.