Packers Post Record Revenue, Decreased Net Income
The Green Bay Packers continue to rake in cash, thanks mostly to you. Well, you and millions of people just like you.
The organization released their financials for the 2013-14 fiscal year on Thursday and they’re pretty awesome if you like numbers and such.
The Packers posted record revenue to the tune of $321.4 million. That’s a 5.2 percent increase over last year. Of that revenue, $187.7 million is national revenue, much of which comes from the Packers’ share of the league’s TV and merchandise contracts. $136.4 million is local revenue, which is primarily generated by Lambeau Field.
The Packers estimate a single game generates over $13 million in revenue.
While that’s all rosy, the Packers did see a sizable dip in net income. That number is down 41 percent, to $25.3 million, which is still pretty damn good.
The reason for the dip is because player salaries rose quite a bit — see Rodgers, Aaron and Matthews, Clay — and because the team has been investing in expanding Lambeau Field and the area around it.
The Packers will open an expanded Pro Shop later this month. They’ve also been buying up land around the stadium. So far, the only development they’ve established in what’s known as the Titletown entertainment district is a Cabela’s. However, more are sure to follow.
The organization is also now talking about replacing the Don Hutson Center, where the Packers currently practice, and building a conditioning, rehabilitation and instructional center.
Presumably that latter place would be to deal with the annual rash of hamstring injuries.
Also, if you’re a stockholder, our conservative estimate is that your stock just increased in value by $0.00. Booyah!