Packers financial report

[RS12]

Bare in mind this is the NFL's smallest market.

The Packers rode the wave of a Super Bowl title and subsequent 15-1 season to post record profits in their most recent fiscal year, and those profits are helping to pay for the ongoing Lambeau Field expansion project.

The team’s operating profit more than tripled, from $12 million last year to a record $43 million this year, according to the organization’s annual financial report. The Packers topped $300 million in total revenue for the first time, and the record profit was the result of revenue jumping $19 million while expenses fell $12 million compared to the previous year.

“We’re investing it in the stadium and improving the gameday experience for our fans,” said President/CEO Mark Murphy, referring to the $143-million expansion that is adding two HD video boards and a new north-side gate and viewing platform for the 2012 season, plus 6,700 new seats in the south end zone for 2013. “It also allows us to ensure that the franchise is preserved for the future.”

http://www.packers.com/news-and-eve...-2f1d-42d7-9478-2d1a474cd3d6?campaign=T120710

 

[perrykemp]

Bare in mind this is the NFL's smallest market.

The Packers rode the wave of a Super Bowl title and subsequent 15-1 season to post record profits in their most recent fiscal year, and those profits are helping to pay for the ongoing Lambeau Field expansion project.

The team’s operating profit more than tripled, from $12 million last year to a record $43 million this year, according to the organization’s annual financial report. The Packers topped $300 million in total revenue for the first time, and the record profit was the result of revenue jumping $19 million while expenses fell $12 million compared to the previous year.

“We’re investing it in the stadium and improving the gameday experience for our fans,” said President/CEO Mark Murphy, referring to the $143-million expansion that is adding two HD video boards and a new north-side gate and viewing platform for the 2012 season, plus 6,700 new seats in the south end zone for 2013. “It also allows us to ensure that the franchise is preserved for the future.”

http://www.packers.com/news-and-eve...-2f1d-42d7-9478-2d1a474cd3d6?campaign=T120710

$43m of profit PLUS they basically printed themselves another $67m via their stock sale.

One could look at the Packers and actually say they have an unfair advantage over the rest of the league in their ability to essentially print money whenever they need to via Stock sales -- which fans buy up at $250 a pop for a piece of paper that is essentially worth nothing.

If the Packers weren't the smallest market in all of major league sports, I don't think the other owners would allow it.

 

[HoosierCowboy]

but they still have to live in Green Bay

 

[Yakuza Rich]

And we went over this before when the last financial report came out, the Packers are not designed like the rest of the league where they are trying to maximize profit any which way they can because the profits then go to the city of Green Bay, the Wisconsin state government and whatever county Green Bay is located in. Before the lockout occurred, the owners tried to point to Green Bay as proof of them not making much money or losing money, but they conveniently failed to mention how Green Bay is set up.







YR

 

[Eskimo]

That's actually a pretty small profit for a company that is probably worth a billion dollars.

Most people would usually want a 7-11% return on money invested and this would implay a 70-110M profit on a billion dollar company.

 

[FuzzyLumpkins]

And we went over this before when the last financial report came out, the Packers are not designed like the rest of the league where they are trying to maximize profit any which way they can because the profits then go to the city of Green Bay, the Wisconsin state government and whatever county Green Bay is located in. Before the lockout occurred, the owners tried to point to Green Bay as proof of them not making much money or losing money, but they conveniently failed to mention how Green Bay is set up.






YR

Yup they are registered as a not for profit.

 

[perrykemp]

That's actually a pretty small profit for a company that is probably worth a billion dollars.

Most people would usually want a 7-11% return on money invested and this would implay a 70-110M profit on a billion dollar company.

I think you'd be right if we were talking a typical sports franchise with an owner or owners.

With the Packers there is no reason really for them to try to maximize profits other than to fill the coffers for a rainy day. It's not like they have an owner is going to pull the profits out of the company. Best I can tell they pour everything straight back into the business in some way.

The not-profit setup makes their whole model just completely upside down from all the other American sports franchises.

 

[Longboysfan]

Or put money away for player(s) signing bonus.