Thursday, July 18, 2013

The Packers Had Record Profits Last Year

I think the rest of the NFL might be more interested in the Green Bay Packers's annual report than Packer fans. It was noted on Twitter that the CEO of the Dolphins stepped down the day after the Packers released last year's financial information, probably because the Dolphins are losing money. Also, Forbes probably welcomes the information so they can use the data when valuing sports franchises.

On the other hand, Packer fans know all about rising ticket prices at Lambeau and the long waiting list for season tickets. The team just has to be raking it in, and I'm not selling my stock no matter what.
While it was a record year, their revenue only grew by 2% which isn't exactly a huge increase. Also, it's the second consecutive year they've hosted a playoff game, so that's given them a financial boost, and they would take a financial hit if they have to travel for the 2013 playoffs.

The article does point out that player expenses will go up in the current year, after large bonus payouts to Aaron Rodgers and Clay Matthews, but they did just complete the additions of 7,000 sold out seats to offset some of those costs.

Once again, the annual financial report is just confirmation that the team is being well run and it will be able to afford the big signing bonus money it needs to keep players like Rodgers and Matthews around for the long-term.

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