Green Bay Packers’ books show each team got $255M in revenue sharing


The NFL distributed more than $8 billion in national revenue, mostly from its television deals, in 2017.

Each team pulled in $255 million, according to financials revealed on Monday by the Green Bay Packers, a team that is a public company because it sells shares from time to time to raise money, even though its shares are technically worthless.

The bump is an increase of 4.9 percent in national revenues, attributed to an escalator in the league’s TV deals and the league’s Thursday Night Football package becoming more valuable.

Packers president Mark Murphy said any effects from the NFL’s tough season, including the national anthem controversy, did not manifest in the books.

As for the Packers themselves, they say they generated $199 million in local income. While that’s up 0.8 percent from last season, Murphy said the Packers had fewer offseason visitors to Lambeau Field and the Packers Hall of Fame after missing the postseason for the first time since 2008.

Total revenue for the team has been climbing since the Packers renovated Lambeau in 2003, with 2017 bringing in another record — $454.9 million.

The team has invested $370 million to expand and renovate Lambeau in the last eight years. New upgrades this season will include concession grab-and-go stations, a new sound system and LED stadium lights.

The team netted $38.6 million, down from $72.8 million; Murphy says that has largely to do with a previous bump in revenue from league-shared relocation fees. None of the teams received any money yet from the Rams and Chargers moving to Los Angeles and the Raiders eventually moving to Las Vegas, but the line item was credited to all teams last year.

Increased costs included travel, as the retirement of aircraft previously used by airlines to charter teams has meant the team now has to send two planes, instead of one, to road games, Murphy said.

Expenses should go up soon, as Murphy said he expects to sign quarterback Aaron Rodgers, whose contract expires at the end of the 2019 season.

“We want to get a deal done with Aaron and Aaron wants to get a deal done with us,” Murphy said.

Murphy said the Packers have so far invested $65 million into Titletown, an area surrounding Lambeau that has sprouted into a new community. Phase 2 of the development will include residences.

Murphy said the project means a lot more given its scope in a much smaller community, compared to other teams that have brought land around where their stadiums reside.

“We really feel like this will have a much larger impact in Green Bay than Patriot Place does to New England,” he said.

Despite missing the playoffs last season, Murphy isn’t worried about filling the seats. He said more than 99 percent of season-ticket holders renewed for the upcoming season and that the Packers’ waiting list, the longest in the NFL, now stands at 135,000 people.

Source link

Products You May Like

Articles You May Like

UCI Track World Cup: Laura Kenny, Jason Kenny, Katie Archibald & Elinor Barker in GB squad
Ex-jockey Patrick Valenzuela pleads guilty to domestic violence
Strasbourg vs. AS Monaco – Football Match Report – October 20, 2018
Manchester United’s Anthony Martial insists relationship with Jose Mourinho is good
World Cup and W-League title in Perth Glory marquee Samantha Kerr’s sights

Leave a Reply

Your email address will not be published. Required fields are marked *