Impressive Financial Growth for the Green Bay Packers
Eighteen years ago, when Mark Murphy took over as president of the Green Bay Packers, the NFL’s revenue distribution was $138 million per team. Now, just days before his retirement, the Packers are revealing impressive financial figures. The team announced that its domestic distribution revenue exceeded $432.6 million in the last fiscal year. This represents a significant increase, especially after domestic revenue surpassed $400 million for the first time, reaching $402.3 million.The Packers, being the only publicly owned team in the NFL, are obligated to disclose their financial statements annually, offering a unique insight into the league’s revenue landscape. The data was presented by Murphy, along with CFO Maureen Smith and executive committee treasurer Karl Schmidt, at the annual shareholders meeting at Lambeau Field. National revenue accounts for approximately 60% of the Packers’ total revenue, driven primarily by television deals. Murphy highlighted the league’s steady growth, with an annual increase of around 7%, and the expansion into streaming, although cable television remains the main source of income. This growth in national revenue has contributed to an increase in the Packers’ operating profits, which went from $60.1 million to $83.7 million. Local revenue also experienced an increase, going from $251.8 million to $286.4 million, thanks in part to the inclusion of a ninth regular season home game. In addition, the Packers’ corporate reserve fund grew to $579 million, compared to $536 million the previous year. Due to its public ownership structure, the Packers cannot receive private equity investments like other teams. Currently, there are approximately 5,204,615 shares held by 539,029 shareholders, who do not receive dividends. To protect the team’s ownership, no one person can own more than 200,000 shares. During his tenure, Murphy reported that the Packers have invested $675 million in Lambeau Field and team facilities, including the recent locker room renovation. “We don’t have a wealthy owner with deep pockets, so we’ve tried to build the corporate reserve fund over the years,” Murphy explained. “I think it’s especially important now with the ability of other teams to sell minority shares, as well as private equity up to 10% of their value.”“I’m still amazed at the popularity of the NFL and the league’s ability to generate revenue. It’s impressive,” Murphy commented.
Mark Murphy
