GREEN BAY, WI (WTAQ) – It was another record setting year financially for the Green Bay Packers.
The team released its annual financial report Friday, showing the Packers set new all-time records for total revenue, net income and profit from operations.
Packers President and CEO Mark Murphy says there are two factors he thinks of as to why they raked in more green.
“The continued success has been helpful for us,” Murphy said to the media Friday. “As well as the popularity of, not only the Packers, but of the league.”
The Packers in 2016 reported making $408.7 million in total revenue, comprised of $222.6 million in national revenue and $186.2 million in local revenue. That’s up 8.4 percent from their adjusted 2015 numbers.
Total expenses for 2016 is listed at $333.7 million, down 1.2 percent from the year prior, leaving an operational profit of $75 million. That number is up 35.7 percent from 2015. Overall net income is listed as $48.9 million, up 67.8 percent from the $29.2 million last year.
“What’s kind of been remarkable is the (Lambeau) tours have really been doing well,” Murphy said, explaining the boom in the so-called Atrium businesses over the last year. “This past fiscal year we set a record with 175,000 people taking tours.”
Team officials explained that the adjusted 2015 financial numbers represented a change in how the Packers decided to report visiting team share.
Looking ahead, Murphy says investing in the local community is something the Packers take seriously. One of those examples is the Titletown District, which will open next summer.
“I think what we’re doing in Titletown could be the most impactful thing we’ve done since the major renovation was done in 2003,” said Murphy.
Murphy added that next year, with a number of key players’ contracts expiring, the Packers anticipate an increase in player cost.
