Green Bay Packers Profit Is $48.9 Million

By Douglas A. McIntyre Updated Jan 13, 6:23AM EST · Published Jun 25, 9:04AM EDT

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The Green Bay Packers are a small market team. It is also the only NFL team to releases its financials. And, those financials show what a small market team can make if it is a well run franchise in the right market. Green Bay’s win/loss record in the regular season and its playoff records are among the best in the NFL since the first Super Bowl in 1967 (Green Bay won the first two) . Net income for the fiscal years which ended in March was only $48.9 million.At least the numbers improved from the year before.

The team ranks high among its rivals, the team announced:

Added together, the local and national numbers produced total revenue of $408.7 million, also a franchise record. The Packers have been ranked ninth in the NFL in total revenue for the past three years and will learn their current ranking sometime this fall.

The Packer’s also announced that

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.

And,

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

Local revenue grew by $18.1 million, or nearly 11 percent, to $186.2 million, which President/CEO Mark Murphy attributed primarily to the success of the Lambeau Field Atrium businesses and a strong year in sales and marketing sponsorships.

The new, expanded Packers Pro Shop – which opened in late July of 2014 – operated for a full year for the first time, while the new Packers Hall of Fame and 1919 Kitchen & Tap restaurant also opened to strong early results. In addition, stadium tour attendance grew by roughly one-third, from 130,000 patrons to a record 175,000.

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The NFL itself was a drag on growth:

The club’s national revenue, which is money shared equally by all 32 NFL teams, also grew $13.5 million to $222.6 million, a rise of 6 percent. That’s a fairly standard bump due to built-in increases in the league’s broadcasting contracts.

Sometimes it pays to be small

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.