Packers Post Record Profits. Again.

The team released their annual financial statement on Friday and the money continues to flow in the league's smallest market. 

The Packers released their annual financial report late this afternoon and announced another record year. 

From the team:

The franchise posted record profits over the past fiscal year, according to the financial statement released by the team on Friday, providing a strong foundation for football operations, upcoming investment in the Titletown District development, and continued growth in the team’s other community and charitable endeavors.

Net income reached $48.9 million for the fiscal year ending March 31, 2016, while profit from operations was at $75 million. Those are healthy increases of 68 percent and 91 percent, respectively, over the previous year, when net income (which includes investment performance, income taxes and interest expenses on debt) was at $29.2 million and operating profit was at $39.4 million.

Such significant jumps and record results were due mainly to impressive growth in local revenue and a drop in general expenses.

The league's smallest market continues to post incredible numbers year in and year out. One can only wonder what large market teams like the Dallas Cowboys or New York Giants are raking in, but for things are certainly going well in the NFL's tiny hamlet of Green Bay. 

The NFL is in the second year of a national television broadcast contract that apparently provided “a big spike” in the Packers fiscal 2015, according to Packers president Mark Murphy. 

Also according to Murphy, the Packers rank ninth in revenue among the NFL's 32 teams. 

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Comments (8)

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Amanofthenorth's picture

June 24, 2016 at 05:44 pm

I believe the packers are the only major sport' team that has to report earnings. Much to the chagrin of other owners.

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Dennis Folz's picture

June 24, 2016 at 06:06 pm

And yet the bloodsuckers felt the need to once again raise ticket prices. Seven of last eight years.

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Since'61's picture

June 25, 2016 at 08:12 am

This is both good and at least concerning news. Good that the Packers are strong financially, concerning because they remain financially healthy without the need to improve on field performance. The beat goes on. Thanks, Since '61

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NashvilleCheesehead's picture

June 25, 2016 at 09:13 am

Our beloved team is at its core a nonprofit. (See http://poseidon01.ssrn.com/delivery.php?ID=48506402706507507909006410201...).

As such, it will always be less willing to take risk. Although it is cool to be part of a community owned team, it is a limitation that is at the heart of our legal status. With good management, we can have stability in our performance. We will never be a team that goes for broke in a given year. Management MUST (according to our Articles of Incorporation) put the financial interests of the community first.

As much as TT can frustrate all of us at times, his more conservative approach is exactly what our team requires given its legal status.

It is a trade off that this shareholder is more than wilłing to accept.

Enjoy the ride and R-E-L-A-X!!

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Thegreatreynoldo's picture

June 25, 2016 at 12:17 pm

I think what Nashville Cheesehead wrote is simply untrue.

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Ferrari Driver's picture

June 25, 2016 at 09:56 am

I hope they raise ticket prices this year and maybe they can be at the top of the league in profit.

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oregonpacker's picture

June 26, 2016 at 08:46 am

I agree with "Since 61". Couple the profit margin with the unused cap room and it would seem the sense of urgency is a not a current priority. That is too bad. Yes, we have a very good product but there is room for improvement and we don't seem to recognize that and our failure to rectify it is disturbing...Go Pack....

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Turophile's picture

June 28, 2016 at 03:31 pm

You do realise that the unused money ($6.9m) carries over to 2017, a year when the Packers will need every penny to deal with the glut of big contracts coming.

The 'leftover' also acts as a cushion in case of unforseen circumstances, like a bad rash of injuries at one position.

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