Coming off Super Bowl, Packers set record profits
To the victor went the spoils. In a major way.
The Green Bay Packers followed up their victory in Super Bowl XLV with a 15-1 regular season and with it came record profits for the franchise.
The club released financial data from the previous fiscal year ending March 31. It shows a net income of $42.7 million, a massive jump of $25.6 million from the previous year, according to Dan Walker of the Milwaukee Journal Sentinel.
How much the profits have to do with the new CBA that was signed a year ago is open to some debate. The Packers, like most clubs, trimmed down for the lockout. Total revenue for the club jumped $19.4 million to reach $302 million. Local revenue also jumped $11.1 million to $130.4 million.
So, at a time when the nation faces ongoing financial struggles, it’s a very good time to be owning an NFL franchise. The Packers also credited sales at the team’s shop at Lambeau Field.
Team president Mark Murphy said the club was able to “ride the wave” from the victory in the Super Bowl and the team used that momentum, of course, to sell shares during the winter to help raise funds for ongoing improvements and expansion at Lambeau Field.
The Packers are using revenues to invest in land with the goal being to grow the business.
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Brad Biggs covers the Bears for the Chicago Tribune