The Green Bay Packers reported an working revenue of $77.7 million within the fiscal yr ending March 31, 2022, encompassing the 2021 season, underscoring the NFL’s sturdy monetary rebound from the primary yr of the COVID-19 pandemic.

The Packers’ revenue is up from a $38.8 million loss the yr earlier than when the crew performed video games with no followers in attendance. In the fiscal yr masking the 2019 season, the crew reported a $70.3 million acquire.

“The storyline for our financials from a year ago is a return to normalcy,” stated Packers president Mark Murphy.

The crew had $579 million of income within the 12 months of fiscal 2022, nicely up from the $371.1 million determine within the first pandemic season, and $506.9 million the yr earlier than that. Green Bay ranks between eighth and tenth when it comes to income among the many NFL’s 32 groups.

The majority of the Packers’ income comes from their share of nationwide NFL cash, which is derived from media, sponsorship, licensing and different classes. Green Bay acquired $347.3 million from the league, that means the NFL pulled in $11.11 billion in nationwide income for the final season (nationwide cash is equally divided between the 32 golf equipment). The yr earlier than, the NFL distributed $309.2 million to every of the groups.

The new broadcast contracts haven’t kicked in but, so the nationwide figures look to solely rise much more quickly in future years.

On the native facet, the crew reported $231.7 million of income for the 12 months that ended March 31, 2022, up from the earlier yr’s $61.9 million when no followers attended video games. The yr prior, the crew reported $210.9 million of native income.

“The other thing that contributed to the increase was the 17th regular season game,” Murphy stated of the crew’s income enhance. “And then there was an extra playoff game in primetime this year. And … then kind of a little bit of pent-up demand from the pandemic in terms of the sponsorships.”

The Packers are the one public crew within the NFL, with 539,000 shareholders after including 177,000 in a latest inventory sale. The inventory doesn’t commerce on an trade, however the franchise is required to reveal its annual financials, making it the one membership within the NFL to take action.

Without an proprietor, the crew has constructed a “rainy day” reserve fund, which hit $511 million six months in the past, however because of the inventory market fall is now round $440 million, Murphy stated.

The Packers and Green Bay are additionally bidding on internet hosting the 2025 and 2027 Draft, after dropping out to Detroit for the 2024 version.

“[We]…have a very strong sense that we will get one of those two years,” Murphy stated.

The Packers’ web earnings, which displays investments, was $61.6 million within the fiscal 2022 yr. That is definitely solely barely up from the earlier yr’s $60.7 million due to a large $120 million funding fund acquire in that interval.

(Photo: Raj Mehta / USA Today)



Source link