The team now has more than 537,000 shareholders. As it happened, the contribution offset those losses, keeping the fund at $46 million.Ī stock sale earlier this year added 177,000 shareholders to the Packers ownership roster. The Packers also made a $3 million contribution to the Packers Foundation, that team's charitable organization which, like the corporate reserve, suffered investment losses. The Packers' corporate reserve fund - its savings account - fell from more than $500 million to about $440 million because of the drop in the stock market over the past several months.
National revenue is expected to increase for a dozen more years, which is how long the NFL has signed TV deals. Murphy attributed the increase in income to a newly introduced 17th regular-season game last year, which increased TV revenue, among other things an extra primetime playoff game last season increases in sponsorship revenue, and the yearly escalation of television revenue. National revenue, which is shared equally by all 32 teams and is funded primarily by television and other media deals, remained relatively intact during the 2020 season because the NFL played and televised all of its games, whether there were fans in the stands or not. National revenue increased significantly from 2019-20, which the Packers were using for most comparisons, when it was $296 million, and last year, when it was $309.2 million. "Quite honestly, we did some things we probably would not have done had it not been for the pandemic and the financial situation we saw ourselves in." "We did end up reworking and renegotiating a lot of player contracts," Murphy said. Packers stock cannot be traded and does not pay dividends. The NFL's smallest-market team, and the only one that makes its financial results public, the Packers reported $61.6 million in net income. Total revenue and profit from operations, rather than net income, are the more significant numbers in Packers' finances because all money, whether profit or not, goes into team operations or the community. The Packers released their financial results ahead of the annual shareholders meeting, scheduled for 11 a.m. "I think the storyline this year is return to normalcy," Packers President and CEO Mark Murphy said Friday.
The team reported profit from operations of $77.7 million, also a record. The Packers reported a record $579 million in revenue for the 2021-22 fiscal year, which concluded at the end of March. GREEN BAY – COVID-19 is not gone, but it ceased to be a factor for the Green Bay Packers and their fans in 2021, and that resulted in a rebound in the team's financial performance.