Green Bay Packers break financial records with 150% growth in income - NFL News
The Green Bay Packers are one of the most successful franchises in the National Football League (NFL) and that success is translating into off-the-field success as well.
On Tuesday, the franchise announced its yearly finances which show that last season the Packers had a record-breaking financial year in 2011-12.
Unlike other NFL franchises, the Packers are the only team that are publically owned making it mandatory on them to reveal their finances.
According to the latest figures, income for the franchise increased by a whopping 150% last year to $ 42.7 million while total revenue increased by 6.9% to $ 302 million.
These figures do not include the cash raised by the franchise by selling its stock last year.
The Packers raised $ 64 million through sales of its shares which will be used to expand and improve the team’s iconic Lambeau Field stadium.
Green Bay also had an increasing number of visitors taking the stadium tour last year with 137,000 taking the tour while an even bigger number of 156,000 came to visit Green Bay’s Hall of Fame.
Franchise President and CEO Mark Murphy was hugely excited by the record breaking figures and said that the team’s 2010 Super Bowl victory including the long unbeaten run in 2011 helped the team generate record number of profits.
According to the Milwaukee Journal-Sentinel he said:
"I think that, along with the 15-1 regular season, really spurred us on.”
Adding further he said:
"What I would say is that the profits have been very positive, and we are really excited about it because we are investing those profits in the stadium and we are improving the fan experience through our renovation."
He also went on to thank the fans for their support throughout the season and said that the Packers will look to remain consistent with their performances both on and off the field.
Times are great at Green Bay currently as the franchise boasts one of the strongest rosters as well as a strong financial model.
It is likely that the team will perform well in the upcoming season and they will be strong contenders for the Super Bowl once again.
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