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Last year, the Green Bay Packers had another stock issue. That stock can't be re-sold to someone at a profit and it doesn't pay dividends. It's just something that you buy to be allowed to attend the annual stockholders meetings, and to help out your favorite football team financially. Fans of every other team in the NFL can't stand this because it's a way for the Packers to make money in a way that their team can't. Except, because you're not actually buying stock in the team, other teams can do exactly the same thing, but less people would buy it. We're so awesome.
Between that, selling out every game, selling a lot of merch and not doing anything stupid, the Green Bay Packers made a record $43 million profit last year. In contrast, the team made just $12 million in profit two years ago. I know, 'just' $12 million. I know, we're spoiled.
Because of the Packers' ownership structure, a lot of that money is going right back into the team. One phase of stadium expansion is going to be complete before the season begins, and there's going to be further stadium expansion next offseason. Mark Murphy has been gloating about the new video boards, the kind of thing you can buy when your team is making money hand over fist.
The stock sale wasn't the only reason revenue and profits increased, though. The team also saw an increase in TV money, as well as record Pro Shop sales, Hall of Fame visitors and stadium tours. Ticket prices were also higher in 2011 than they were in 2010.
Unless the Packers win another Super Bowl this year, Pro Shop sales are expected to dip a bit, but that's being accounted for. Here's what treasurer Mark J. McMullen said about that aspect of the Packers' business.
"We've had strong momentum," said Mark J. McMullen, treasurer and member of the team's executive committee, referring to the team following up its Super Bowl title with a 15-1 season. "With the Pro Shop, there's still a spillover effect from the Super Bowl, which we expect to tail off, but the sales have been strong and the margin has been improved in terms of expense management."
Profits are going towards paying back loans for stadium renovation faster than expected, as well as development of the area around Lambeau Field. The new Cabela's store opening outside the stadium is the first of many new businesses expected as part of the new Titletown development, and the Packers are contributing to that. They also increased charitable contributions last year, donating $6 million in total to charity.
