Packers financial statement shows record profits
The Packers released their financial numbers Tuesday, and as Frank Sinatra once sang, it was a very good year.
Thanks to a Super Bowl win followed by a 15-1 regular season, the Packers enjoyed record profits in the last year, according to a report in the Milwaukee Journal-Sentinel.
The Packers reported net income of $42.7 million last year, a jump of $25.6 million from the previous season.
Profits from operations was up $31 million to $43 million, and total revenue was up $19.4 million to $302 million.
That allowed the to set new records for net income, profit from operations, total revenue and local revenue (which jumped $11.1 million to $130.4 million).
Team president and CEO Mark Murphy said the record earnings were because they were able to “ride the wave,” from a championship.
“I think that along with the 15-1 regular season really spurred us on,” Murphy said.
Expenses were actually down $11.5 million to $259 million, thanks to the fat-trimming in anticipation of the lockout.
The Packers are in a unique situation because they lack the debt many teams are saddled with, but any way you look it it, the numbers are astonishing.