by Brad Biggs
July 16, 02013
Business was good for the Green Bay Packers this past season, very good.
The publicly owned team opened up its financial records today, as required by law, and showed that for the fiscal year ending March 31 the team’s net income, profit and total revenue all reached record highs.
According to the Milwaukee Journal Sentinel, net income rose to $43.1 million and profit jumped more than 26 percent to $54.3 million. Total revenue was up 2 percent to $308.1 million.
The Packers expect more growth as a 7,000-seat expansion at Lambeau Field will be opened this season. Team president Mark Murphy said the current collective bargaining agreement, reached after the lockout in 2011, is a factor in the team’s bottom-line success.
“We are seeing the benefit of that in a number of ways," Murphy said, according to the report. "Just having the stability of a long-term labor agreement has allowed the league to enter into long-term contracts with our TV partners, and long-term agreements with sponsors. Same thing for us."
There will be adjustment to the figures next year when the massive contract extensions for quarterback Aaron Rodgers and outside linebacker Clay Matthews hit the books. Team expenses actually dipped this past year in comparison to the year before. That will go up this time.
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Brad Biggs covers the Bears for the Chicago Tribune