Fans watch the Green Bay Packers practice at Lambeau Field during Family Night Aug. 5, 2022. PC: Fox 11 Online
GREEN BAY, WI (WTAQ-WLUK) — A late-season playoff run was good news for the Green Bay Packers, who once again saw a profitable year.
While the Packers increased spending, revenue was up too. The organization boasted nearly $100 million in net income during the 2024 fiscal year, which ran from April 2023 to March 2024.
“It’s another strong year, from a financial standpoint, for the Packers, and certainly I think it really speaks to the popularity overall of the NFL,” said president/CEO Mark Murphy.
The organization credited both national and local revenue, specifically collecting bargaining and TV contracts on the national side, with the strong numbers. National revenue was up to $402.3 million, a 7.5% increase from the year before.
“Built-in increases in the national TV deals,” Murphy said. “I think the league has also been strategic in terms of streaming, you’ve that in terms of Amazon and Peacock. We’ll see that, which is part of this year, with the game in Brazil.”
Locally, he credited staff members with sponsorship deals and the teams playoff appearance with helping to bring in additional revenue. Local revenue was up nearly $16 million from 2023 to $251.8 million.
Strong investment gains helped, too. The corporate reserve fund saw an increase of more that 413%.
Valued at about $460 million last year, the fund sits at $536 million now. According to Murphy, “The economics of the NFL are changing. You see teams selling for $6 to $6.5 billion, you’ve got owners that are really investing money in their franchises. So, we really need to make sure that we continue to have the assets and financial wherewithal to be able to support a championship team.”
The organization continuing to invest in the stadium, for the fans, and football facilities for the players.
“Since 2003, I think we have put over $600 million into Lambeau Field and none of that is public money, it’s all been money the Packers have put in as an organization,” Murphy said. “Obviously, Lambeau Field is our most important asset and we’ll continue to invest in it.”
And in adding that the future looks bright for the organization, Murphy said, “We’re a community-driven, community based team, but also, I think we want to be stewards, financial stewards and make sure that we’re leaving the Packers and the organization better than we found it.”
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