On Now
Coming Up
  • Fri., Jul. 25, 2014 6:00 PM CDT Packers 1K Kids Run

    Back to Football also includes the 1K Kids Run, presented by WPS Health Insurance. Kids 10 years old and younger will have the opportunity to run a Lambeau Lap on Friday, July 25, at 6 p.m. Registration for the Kids Run is $10 and all participants will receive a Packers 1K Run t-shirt, a logoed bag and a participant medal.

    http://www.packers.com/5k

  • Fri., Jul. 25, 2014 7:00 PM CDT Movie Night at Lambeau Field

    Movie Night at Lambeau Field will return this year on Friday, July 25, following the 1K Kids Run. The event is free and open to the public, and concessions will be available throughout the movie. More details will be announced at a later date.

    Time listed above is subject to change.

  • Sat., Jul. 26, 2014 8:20 AM - 10:20 AM CDT *Public practice *Any practices moved inside to the Don Hutson Center due to inclement weather, poor field conditions or for any other reason will be closed to the public due to space limitations. All other practices listed are expected to be open unless listed otherwise. All outdoor practices are expected to be held on Ray Nitschke Field (across from the Resch Center). All times indicated are Central.
  • Sat., Jul. 26, 2014 11:00 AM - 11:30 AM CDT Live McCarthy press conference Head Coach Mike McCarthy will be available to media in the Lambeau Field Media Auditorium.
  • Sat., Jul. 26, 2014 6:30 PM CDT Packers 5K Run/Walk

    The fifth annual ‘5K Run/Walk at Lambeau Field,’ is set for Saturday, July 26, at 6:30 p.m.

    The computer-timed run is highlighted by a neighborhood route that ultimately takes participants into Lambeau Field and around the famed gridiron. The event has a special finish line – the Packers’ ‘G’ painted on turf located in the parking lot.

    All participants will receive a Packers 5K Run T-shirt, a logoed bag, and a bib number and timing chip. To celebrate the race’s fifth anniversary, all participants will receive a commemorative medal. In addition, photos will be taken on the course and will be available at no cost on the Packers 5K Run website.

    Packers-themed awards will be presented to the top three finishers in each age group. An awards ceremony will take place following the conclusion of the race.

    Registration, which is $25 for adults and $15 for children (12 and younger), will be available online beginning Friday, May 23, at www.packers.com/5k. Mail-in registration is also an option, with forms available online and in person at Lambeau Field. Runners can also register at the Bellin Run Expo on Friday, June 13, at Astor Park in Green Bay. Early registration is encouraged. After July 13, registration fees will increase to $30 and $20, respectively.

  • Sun., Jul. 27, 2014 8:20 AM - 10:20 AM CDT *Public practice *Any practices moved inside to the Don Hutson Center due to inclement weather, poor field conditions or for any other reason will be closed to the public due to space limitations. All other practices listed are expected to be open unless listed otherwise. All outdoor practices are expected to be held on Ray Nitschke Field (across from the Resch Center). All times indicated are Central.

News

Print
RSS

Wins, fans and timing help Packers set profit record

Posted Jul 16, 2013

Mark Murphy previews financial report in media conference


GREEN BAY—Another successful season on the field, the continued loyalty of the team’s fans, and the timing of two players contracts helped the Green Bay Packers set a franchise record for profits in fiscal 2012-13.

“The good year on the field and the support we got from our fans propelled us to set records,” Packers President and CEO Mark Murphy said.

It also helped the cause that record-setting contracts for quarterback Aaron Rodgers and linebacker Clay Matthews weren’t completed until the new fiscal year began. Translation: Player costs will be higher in the current fiscal year than they are in the financial report Murphy will deliver to shareholders on July 24.

“Player costs were down $19 million over the previous year. It’s a timing issue,” Murphy said.

The Packers’ financial report shows total revenue of $308.1 million, a franchise record, against $253.8 million in expenses, leaving a profit from operations of $54.3 million. Net income of $43.1 million is a franchise record, though it’s only a one percent increase over the previous year.

Rodgers’ and Matthews’ contracts will be hitting the Packers at a good time, in a year when the team will open the new south end zone expansion, which is expected to lift the team to new heights in total revenue.

“You’ll have additional revenue from the expansion,” Board of Directors Treasurer Mark McMullen said. He explained that careful management of the balance of revenues vs. expenditures keeps the Packers in the black and continues to give the franchise a solid financial future.

“The most solid it’s ever been,” McMullen added.

Murphy said the “long-term stability of the current Collective Bargaining Agreement has been a huge help. The new G-4 loan program allowed us to invest in the stadium, preserving and protecting the future of the franchise.

“Knowing you’re going to have eight more years of labor certainty has really been beneficial to us. We’re investing a lot more into the community,” Murphy added.

The NFL contributed $61 million toward the Lambeau Field south end zone expansion, per the G-4 loan program. When the renovation of the Atrium is complete, the NFL will have contributed $116 million toward the entire Lambeau Field expansion and renovation project.

Murphy explained to the media on Tuesday that the 7,000 additional seats in the south end zone will provide the local economic impact equivalent of one extra home game per year.

“We’re investing in the team, we’re investing in the facility … trying to set the organization up to be successful in the future,” Murphy said at Tuesday’s press conference.

Lambeau Field’s new seating capcity is 80,750, third-largest in the NFL behind FedEx Field and MetLife Stadium.

“We’ll be using profits to pay off the debt on the stadium improvements,” said Paul Baniel, the team’s vice president of finance and administration.

“We were pleased to be able to accomplish it without any public tax money,” Murphy said of funding for the Lambeau Field development project.

One of the charms of the Packers’ unique public ownership structure is that every dollar the Packers generate stays within the organization, as compared to a team with private ownership that might direct monies toward other endeavors.

Next on the Lambeau development agenda is renovation of the Atrium, which is expected to be complete in June of 2015.

The Packers are contributing $5 million this year to the team’s foundation, and each team in the NFL is contributing $2 million to advancing player health and safety measures.

“We’re stewards of the organization, leaving it better than how we found it, and we are,” Murphy said.


 
blog comments powered by Disqus

You May Also Be Interested in...

Recent Videos