Another Record Year for the Green Bay Packers
This is becoming anti-climactic at this point. Another year, another revenue record for the Green Bay Packers.
The team released their financial statement on Wednesday and it showed an all-time high of $441.4 million in total revenue for the fiscal year ending on March 30.
That’s $32.7 million, an 8-percent increase, more than last year’s total revenue. The Packers have been reporting record revenues since 2003, when Lambeau Field was renovated.
The primary factors cited for this year’s increase are more national television revenue, ticket price increases, more sponsorships and Packers Pro Shop sales.
The numbers aren’t increasing across the board, though. The organization reported an operational profit of $65.4 million, down from the record of $75 million last year. The organization’s total costs sit at $376.1 million, the largest portion of which is made up of player salaries.
So where does all of this money come from?
The NFL’s TV deal is split between all 32 teams. The Packers reported their national revenue at $244 million, which is largely because of that deal. That’s $21.4 million more than last year.
Local revenue was $197.4 million, 6.1 percent more than last year. That includes includes game-day revenue, local broadcast deals, sponsorships, atrium revenue and the Green Bay Packers Hall of Fame.
“The Lambeau Field Atrium renovation continues to serve us well,” team president Mark Murphy said. “We continue our efforts to grow revenues and diversify our revenue streams. We don’t want all our revenue to come from the backs of ticketholders.”
Of course, the Packers will be raising ticket prices again next year, so take that however you’d like to.
Here’s another guarantee. The Packers will report even more revenue next year and that increase will be primarily due to operations of the Titletown District, which will soon be complete.