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Packers' profit drops 98% to $724,000, hurt by losing

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Www.madison.com/sports/football/professional/packers-profit-drops-to-hurt-by-losing/article_83c0f16e-b9d9-5488-8afa-204179ffd072.amp.html

GREEN BAY — The Green Bay Packers reported a profit of just $724,000 in their latest fiscal year, which included their second straight season without a playoff appearance, a large contract extension for quarterback Aaron Rodgers and change in coach from Mike McCarthy to Matt LaFleur.

Green Bay’s profit in the year ending March 31 was down 97.9% from $34.1 million in the year ending March 2018 and more than 99% from the record $75 million in the previous fiscal year.

“From a financial standpoint, it was a unique year for the Packers,” Packers president Mark Murphy said Friday.

Expenses rose from $420.9 million to $477.2 million, boosted by Rodgers’ $134 million, four-year deal and the contracts for several free agents: outside linebackers Za’Darius Smith and Preston Smith, safety Adrian Amos and guard Billy Turner.

“We were a little more aggressive than we’ve been in a number of years,” Murphy said.

While overall revenue increased 5.1% to $477.9 million, local revenue improved by only 2.3%, hurt by consecutive losing seasons that impacted apparel sales and tours of Lambeau Field and the Packers Hall of Fame.

“If we can get back to the playoffs and get to the Super Bowl, that always helps,” Murphy said. “We have a policy regarding our season-ticket pricing. We want to be just below the league average. We don’t want everything to be on the backs of our season ticketholders.”

The NFL’s collective bargaining agreement is set to expire after the 2020 season and the team has $397 million in its corporate reserve fund.

“The plan was that we had enough money to cover expenses for a year. I think we’re in very good shape with that,” Murphy said. “We don’t have a rich, deep-pocketed owner, so we have a $400 million corporate reserve. Three or four years ago, we put $50 million into the corporate reserve. It’s grown since then with investment returns and we’ve made significant investments in real estate around this area.”

 

 

 
 

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I thought cap spending had nothing to do with the bottem line and had nothing to due with profit and loss so why is this article even discussing player contracts?

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2 minutes ago, T0mShane said:

The Rust Belt should be driven to blight for what they did. I’m glad to watch them suffer.

Yikes

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1 minute ago, BornJetsFan1983 said:

Yikes

Let the Lord smite them and their sh*t cheese

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3 hours ago, Jet9 said:

Www.madison.com/sports/football/professional/packers-profit-drops-to-hurt-by-losing/article_83c0f16e-b9d9-5488-8afa-204179ffd072.amp.html

GREEN BAY — The Green Bay Packers reported a profit of just $724,000 in their latest fiscal year, which included their second straight season without a playoff appearance, a large contract extension for quarterback Aaron Rodgers and change in coach from Mike McCarthy to Matt LaFleur.

Green Bay’s profit in the year ending March 31 was down 97.9% from $34.1 million in the year ending March 2018 and more than 99% from the record $75 million in the previous fiscal year.

“From a financial standpoint, it was a unique year for the Packers,” Packers president Mark Murphy said Friday.

Expenses rose from $420.9 million to $477.2 million, boosted by Rodgers’ $134 million, four-year deal and the contracts for several free agents: outside linebackers Za’Darius Smith and Preston Smith, safety Adrian Amos and guard Billy Turner.

“We were a little more aggressive than we’ve been in a number of years,” Murphy said.

While overall revenue increased 5.1% to $477.9 million, local revenue improved by only 2.3%, hurt by consecutive losing seasons that impacted apparel sales and tours of Lambeau Field and the Packers Hall of Fame.

“If we can get back to the playoffs and get to the Super Bowl, that always helps,” Murphy said. “We have a policy regarding our season-ticket pricing. We want to be just below the league average. We don’t want everything to be on the backs of our season ticketholders.”

The NFL’s collective bargaining agreement is set to expire after the 2020 season and the team has $397 million in its corporate reserve fund.

“The plan was that we had enough money to cover expenses for a year. I think we’re in very good shape with that,” Murphy said. “We don’t have a rich, deep-pocketed owner, so we have a $400 million corporate reserve. Three or four years ago, we put $50 million into the corporate reserve. It’s grown since then with investment returns and we’ve made significant investments in real estate around this area.”

 

 

 
 

Release the corporate payroll. Probably a long list of Father/Son, Aunts/Uncles, Cousins, Inlaws, like the NYCFD in the 70s. 

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13 minutes ago, LIJetsFan said:

I thought cap spending had nothing to do with the bottem line and had nothing to due with profit and loss so why is this article even discussing player contracts?

The Packers have always used fuzzy math. I recall after they won their Super Bowl it was a big story that they only made, like, eight mil on the year. 

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1 hour ago, T0mShane said:

The Rust Belt should be driven to blight for what they did. I’m glad to watch them suffer.

goatees, gearheads, guns, and Grand Ams.

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43 minutes ago, RoadFan said:

goatees, gearheads, guns, and Grand Ams.

Mullets, mechanics, munitions and mud trucks ... 😁

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2 hours ago, T0mShane said:

The Packers have always used fuzzy math. I recall after they won their Super Bowl it was a big story that they only made, like, eight mil on the year. 

Every corporation in America uses fuzzy math when reporting profit. What are hidden are bonuses and empty expenses. 

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59 minutes ago, Bungaman said:

Mullets, mechanics, munitions and mud trucks ... 😁

Nice.  Others should keep this alliteration going...

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4 hours ago, T0mShane said:

The Rust Belt should be driven to blight for what they did. I’m glad to watch them suffer.

What did they do? Unionize, price themselves out of the labor market, drive manufacturing to zero-accountability polluters like Brazil, Mexico, and China, and damage the planet? OK. Actually, you are correct.

 

I say, let 'em crash. 

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9 minutes ago, Jet_Engine1 said:

What did they do? Unionize, price themselves out of the labor market, drive manufacturing to zero-accountability polluters like Brazil, Mexico, and China, and damage the planet? OK. Actually, you are correct.

 

I say, let 'em crash. 

That wasn't what Tom meant..

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1 hour ago, Scott Dierking said:

Every corporation in America uses fuzzy math when reporting profit. What are hidden are bonuses and empty expenses. 

I think Avatar just broke even. 

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If the Packers’ brass wants to learn how to make a bundle by losing, they should bring in Woody for a seminar.

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Woe is me, poor Packers, It’s almost as tough as being a Steelers fan.

What ever next, champagne is to warm at Gillette stadium?

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8 hours ago, RoadFan said:

Nice.  Others should keep this alliteration going...

??????????????????????????????      

       Skinny Dick's Halfway Inn

Liquor in the front, Poker in the rear

 

 

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12 hours ago, T0mShane said:

The Rust Belt should be driven to blight for what they did. I’m glad to watch them suffer.

C'mon man don't do this.

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8 hours ago, Jet_Engine1 said:

What did they do? Unionize, price themselves out of the labor market, drive manufacturing to zero-accountability polluters like Brazil, Mexico, and China, and damage the planet? OK. Actually, you are correct.

 

I say, let 'em crash. 

orange man bad

mocking-spongebob-1556133078.jpg?crop=0.

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12 hours ago, T0mShane said:

The Rust Belt should be driven to blight for what they did. I’m glad to watch them suffer.

F9988BC2-2B8D-42F7-8DD4-B82449EF11F9.thumb.jpeg.c45f469c8263fe927d6f7baa3e9a3ba6.jpeg

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On 7/13/2019 at 10:57 AM, Savage69 said:

That wasn't what Tom meant..

 

Subtlety is lost on me anymore...

 

 

 

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The Packers situation is something we don't have to worry about and take for granted-  the Jets are Top 10 in the NFL in terms of value and wealth generation.  Even in bad seasons we are #1 in the AFC in attendance, #2 in the entire NFL which is a credit to our fanbase and the loyal supporters of this team.

While all teams have the same cap and same rev share of TV money and merchandising, only the financially successful teams can afford world class training facilities, big salaries for coordinators and coaches, fringe benefits like luxury hotels and generous relocation packages.  It's part of the reason why the Jets are an enticing destination for NFL talent.  So good job Jets Nation.  The part of the experience that we control is a well-oiled machine, one of the best in the NFL.

SAR I

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The packers are owned by their fans most of whom bought the shares a long time ago and have them framed on a wall and have zero intent to ever sell it nor have they ever bought any other stock these people aren’t wall st traders

 

so no it doesn’t matter 

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Damn, I post a thread in the spirit of 'I miss football too. Hey, here's a story...' and I see I've hit a nerve with my lactose intolerant friends. 

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Now we know the real reason McCarthy was canned. $$$

make it rain money GIF by truTV’s Adam Ruins Everything

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13 hours ago, SAR I said:

The Packers situation is something we don't have to worry about and take for granted-  the Jets are Top 10 in the NFL in terms of value and wealth generation.  Even in bad seasons we are #1 in the AFC in attendance, #2 in the entire NFL which is a credit to our fanbase and the loyal supporters of this team.

While all teams have the same cap and same rev share of TV money and merchandising, only the financially successful teams can afford world class training facilities, big salaries for coordinators and coaches, fringe benefits like luxury hotels and generous relocation packages.  It's part of the reason why the Jets are an enticing destination for NFL talent.  So good job Jets Nation.  The part of the experience that we control is a well-oiled machine, one of the best in the NFL.

SAR I

It’s got to be the reason we haven’t won shilt in 50 years.  Has to be. 

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Every corporation in America uses fuzzy math when reporting profit. What are hidden are bonuses and empty expenses. 


See Brady, Tom


Sent from my iPhone using JetNation.com mobile app
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19 hours ago, BurnleyJet said:

Woe is me, poor Packers, It’s almost as tough as being a Steelers fan.

What ever next, Cyanide is too warm at Gillette stadium?

fixed it

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On 7/13/2019 at 6:40 AM, T0mShane said:

Let the Lord smite them and their sh*t cheese

Vermont Cheddar is better.

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