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More news & notes from financial report

Posted by Mike Spofford on July 10, 2012 – 3:48 pm

In a meeting with a group of local reporters, Packers officials discussed some additional aspects to the team’s financial report, which featured a record operating profit of $43 million for the most recent fiscal year.

–President/CEO Mark Murphy explained the reason behind a hike in ticket prices for a third straight year in 2012 amidst the team’s record revenues and profits. He said that because the Packers share one-third of the ticket revenue on general bowl seats with the visiting team, it’s incumbent upon a team that always sells out and has tens of thousands of people on a season-ticket waiting list to keep its ticket prices from impacting other teams’ revenues.

“It’s a balancing act,” Murphy said. “We want to be fair to our fans, and be affordable, but we also want to be fair to our partners in the league. We strive to be at the league average.”

Paul Baniel, the team’s vice president of finance, said that in 2009 — after two straight years of not raising ticket prices — the Packers had dropped to 30th in the league in ticket prices. Now, the team’s prices rank 17th or 18th of the 32 teams.

–The Packers Preservation Fund has remained at $127.5 million for several years now, and the team hasn’t added anything to it. Murphy said the organization looks more closely at the total equity of the franchise, and rather than add cash to the preservation fund has been steadily increasing its investments in real estate around Lambeau Field.

“Investing in real estate to me is investing for the future,” Murphy said, not dismissing the preservation fund but explaining that the organization’s safety net is now those two items “in conjunction” with one another.

–Fans flocked to Lambeau Field for stadium and Hall of Fame tours in record numbers over the past year. Each tour averages around 90,000 visitors per year, but in the past year, the Hall of Fame saw 156,000 visitors while 137,000 fans took stadium tours.

–Officials couldn’t say for sure, but it’s possible the Packers could climb well into the top 10 in the league’s revenue rankings when they come out later this year. For the fiscal year ending in March 2011, the Packers had $282.6 million in total revenue, bringing their revenue ranking up from 13th to 10th in the league. This year, revenues hit a record $302 million.

“We’ll be interested to see when the rankings come out where we are,” Baniel said.

For the full story on the financial report, click here.

To see a video Q&A with Mark Murphy, click here.

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Posted in Packers.com Blog | 8 Comments »

8 Responses to “More news & notes from financial report”

  1. By Vikingsfool on Jul 11, 2012 | Reply

    Any team has good financial standings when they scam their fans into buying pretend stock.

  2. By kochnj on Jul 11, 2012 | Reply

    I love seeing a Vikings fan trying to belittle our efforts in stadium renovation. Perspective.

    Also, the stock income isn’t included in these numbers, as it was fundraising for the expansion, it isn’t considered net income.

  3. By Vikingsfool on Jul 11, 2012 | Reply

    It’s not just stock. The cheesepacking rec footall club you hosers call the packers, scam you into believing that you are part of the team, when really, all you provide is money for a football corporation. Moron cheeseholes.

  4. By bill on Jul 11, 2012 | Reply

    Vikingsfool, So are you and the rest of the mud ducks paying for any of Ziggy’s new stadium?

  5. By BigPackfan on Jul 11, 2012 | Reply

    Hey Vikingsfool, if u dont like what you see here at the packers website don’t come back and read it you purple fool.!!!

  6. By Joe in Orlando on Jul 16, 2012 | Reply

    Call me a fool then, as not only do I have the Stock Certificate, but I also have several Jerseys from my favorite players. Starr, Nitschke, Adderly, KGB, Woodson, Driver, Favre (yes I have one) Rodgers, and Matthews. I can’t seem to find my Freddie Carr jersey anymore.I am hoping to add one this year of another star in the making.

    The Packers are very solvent however with poor management this windfall can quickly disappear.

    Go Pack, we need #14 this year

  7. By PacificBeach66 on Jul 17, 2012 | Reply

    Foolish Viking is off the mark. If the worst case scenario is that the Packers sold stock certificates as wall art, then they were successful in selling more prints than most artist ever would in a lifetime, and still have happy clients that are stoked to have supported their team in new construction and renovation. Just like in all previous years of sale.

    But since that isn’t the case, and it does have an implied ownership, albeit individually small, role in the development of the team and the organization, you can put your comments away in your trophy locker. Plenty of room, eh?

  8. By k21gbp on Jul 17, 2012 | Reply

    I think what the Viqueen fan fails to realize is that his team is getting a new stadium, with the State of Minnesota putting in over $150 mill. If he lives in Dingle-berry-land his tax dollars are paying for the stadium. Ha ha and so is everyone’s taxes, Bear fans, Lion fans, even the unfortunate Packer fans living west of the Mississippi. Buying packer stock is just like giving to charity; helping a good cause. I can choose to do so or not do so. Tax payers have no choice.
    Winning a Super Bowl helps Revenue too. But you wouldn’t know about that.

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