Green Bay Packers report another record-breaking financial year
The Green Bay Packers continue to cash in on the team's success on the field and the NFL's improving financial standing by posting record revenues, the team announced.
Team President and CEO Mark Murphy reported the Packers brought in a record $308.1 million in revenues, a 2-percent increase from last year's $302 million posting a year after the team posted a 15-1 season and Super Bowl title in 2010.
The Packers are the NFL's only publicly owned franchise and, therefore, the only league team required to divulge detailed financial numbers.
Murphy pointed to the team's winning season, revenue-sharing, and reduced player costs as factors contributing to the team's profitable year. The Packers won the NFC North Division title with an 11-5 record, were aided by revenue-sharing playing in the NFL's smallest market, and reduced player payroll from $155 million to $136 million.
From the Associated Press:
"Another strong year on the field," Murphy said. "Fourth year in a row to be in the playoffs, won two straight NFC North (Division) championships. That helps our finances."
Murphy said the team plans to invest a combined $286 million in facilities projects including a 7,000-seat addition at Lambeau Field for the upcoming season and stadium atrium renovations by the 2015 season. On Monday, Forbes ranked the Dallas Cowboys as the NFL's most valuable franchise with an estimated value of $2.1 billion and a profit of $227 million. Forbes ranked the Packers 1oth among NFL teams with an estimated value of 1.161 billion.