Packers enjoy record revenues, profits
Posted by Mike Florio on July 16, 2013, 6:24 PM EDT
The NFL keeps the financial records of 31 franchises pressed closely against its platinum-plated, diamond-encrusted vest. For one team, the publicly-held Packers, the nature of the ownership structure requires all financial information to be released to the masses.
The masses have now learned that the Packers have amassed record revenues and profits in their most recently-complated fiscal year.
Via the Associated Press, CEO Mark Murphy told reporters that the franchise generated $308.1 million in revenue, a two-percent increase over 2012″s high-water mark of $302 million. Profits came in at $54.3 million, a 26.4-percent increase over the $43 million realized in 2012.
The growth comes despite a 1.7-percent drop in unshared local revenue, such as the home team’s share of ticket prices, local media deals, Pro Shop sales, and Lambeau Field tours.
The disparity suggests that league-wide shared revenues remain strong to quite strong, and that every other franchise has likely made a sizable profit in recent months, thanks to the ongoing growth of the game and a favorable labor deal that the owners are trying not to call favorable — and that union leadership is trying not to call unfavorable.
The numbers and reasonable assumptions point to another reality: The value of NFL franchises continues to increase along with the profits and revenues.
