Packers post record $54.3M profits in 2013
The Green Bay Packers posted record profits of $54.3 million in 2013.
As much as football is entertainment, the NFL is a business. And business is good -- the Packers are proof of that, having reported record profits for the 2013 fiscal year.
Green Bay CEO Mark Murphy said Tuesday that the Pack, the only somewhat-publicly-owned franchise, produced a $54.3 million profit in 2013.
“The good year on the field and the support we got from our fans propelled us to set records,” Murphy said.
A spike in revenue generated to $308.1 million coupled with a drop in players costs to $136.0 million -- as a result of new deals for Clay Matthews and Aaron Rodgers kicking in come 2014 -- helped push Green Bay to their most profit-filled year ever.
“Player costs were down $19 million over the previous year. It’s a timing issue,” Murphy said.
The Packers also recorded a record net income of $43.1 million, a slight uptick over 2012 $42.7 million net income. But those two numbers are a monster increase over the Packers pre-lockout income digits: they combined for $22.3 million in the two years before the lockout, according to Daniel Kaplan of Sports Business Journal.
“[The] long-term stability of the current Collective Bargaining Agreement has been a huge help," Murphy said. "The new G-4 loan program allowed us to invest in the stadium, preserving and protecting the future of the franchise.
"Knowing you’re going to have eight more years of labor certainty has really been beneficial to us. We’re investing a lot more into the community."
The Packers shouldn't see anything slow down either, as they'll be adding 7,000 seats to Lambeau Field, which will boost the 2.2 percent of local revenue Green Bay generated last year.
“We’re investing in the team, we’re investing in the facility … trying to set the organization up to be successful in the future,” Murphy said.
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