This past week, the Green Bay Packers unveiled some exciting news on that front. They can certainly afford $432.6 million in national revenue sharing from the NFL for the most recent fiscal year. This is up from the $402.3 million awarded during last fiscal year. The team’s financial performance reflects the NFL’s broader strategy to enhance revenue generation across its franchises.
Chief among them was increased local revenue for the Packers, which jumped from $251.8 million to $286.4 million. The NFL just added a 17th game to its schedule. Included in that change, teams can now host a ninth regular-season home game, a major boon that drives up the increase considerably. This one-two punch of national and local revenue increases highlights the franchise’s deep financial well-being.
Packers’ president, Mark Murphy, offered some explanation on these fiscal happenings. He was careful to put asterisks by that growth, reminding us that it’s all a result of the new national television deals.
“That’s mostly the growth in the national TV deals,” – Mark Murphy
Among other things, Murphy pointed out that the NFL has a 7% annual growth rate in its revenue baked into their model. He emphasized how well the league executed their transition to streaming services. He conceded that much of their revenue is still tied to the old-school broadcast TV model.
“The league has it so they’re trying to grow at about a 7% growth rate annually. And then the other thing I think the league’s done a good job of is moving more towards streaming, but still a vast majority of our national revenue is coming from broadcast television,” – Mark Murphy
Publicly owned Packers are one of the few teams in the NFL that are publicly owned. Annual reporting requirements Each year, they are required to report on their performance. Today, just over 5,204,615 shares of Packers stock are held by 539,029 stockholders. Importantly, each person cannot own more than 200,000 shares. This rule is meant to deter any one person from ever being in control of the team. Further, stockholders do not reap dividends from their investments.
Murphy announced his retirement as the long-serving president of NRPC just this month after many years of tireless service. This decision opens the door for Ed Policy to step into that role. Murphy considered the fiscal prosperity the state experienced during his administration. He noted his surprise at the NFL’s universal appeal and its fantastic capacity to conjure up gigantic earnings.
“I continue to be amazed by the popularity of the NFL and by the league office’s ability to generate revenue,” – Mark Murphy
The Packers’ newly renovated locker room was recently revealed, continuing to add impressive facilities just as the organization did in advance of last season.
Over that same fiscal year, the NFL shared more than $13 billion in revenue among its 32 teams. This staggering sum speaks to the league’s obvious financial might and continuity in the professional sports world.
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