Filings: NFL revenues eclipsed $7 billion last year
Thanks to the Green Bay Packers, the world knows how much cash the NFL brought in during the past fiscal year.
And the answer is … wow!
The NFL’s only publicly owned franchise, the Packers on Monday released their annual financial disclosures, which revealed revenue from the fiscal year topping $375 million, up 16 percent from the previous year. Revenue from national sources increased by 21 percent to $226 million.
According to multiple reports, because the NFL splits its national revenue 32 ways, the filing means that the league made $7.24 billion in revenue last season. ESPN’s Darren Rovell reported that figure to be more than a billion dollars higher than last year, thanks primarily to new TV deals which kicked in last season.
FOX is among the NFL’s television-broadcast partners, along with CBS, NBC, ABC/ESPN and NFL Network.
For a little more context, Rovell said the NFL’s revenue for the 2010 fiscal year was a little more than $3 billion.
It is quite an impressive figure, to be sure, but the Packers, with their financial-reporting requirements due to their public ownership, revealed the most details.
"From a high level, kind of an overall simple message — the Packers had another very strong year financially," team president Mark Murphy said.
Local revenue for the Packers increased 9 percent to $149 million, with more than half of the amount attributed to sales from the Packers’ expanded retail store at Lambeau Field that opened last summer. They were ninth in the 32-team league in revenue for the second straight year.
"National revenue is the same for every team, so we’re ninth in terms of local revenue then," Murphy said.
Playoff home games also help the bottom line since they aren’t guaranteed each season. But the Packers have had a playoff home game each of the last four seasons, and Murphy said that each game can have an economic impact of $14 million on the Green Bay community.
Team expenses grew by nearly 13 percent to $336 million. The Packers listed a net income for the fiscal year ending March 31 of $29 million after accounting for loan interest payments and a redevelopment project.
Player costs declined by $12 million to $159 million, which Murphy attributed to the cyclical nature of player contracts. Last year, the Packers had a spike in player contracts to account for recent extensions for quarterback Aaron Rodgers and linebacker Clay Matthews.
Green Bay tries to keep its ticket prices just below the league average. This season, the average ticket at 81,000-seat Lambeau Field will cost about $92.
The Packers cited recent investments at the stadium, including a new sound system and video boards, along with three new gates. Upcoming projects include improved wireless Internet connectivity and a $55 million project for upgrades to suites.
— The Associated Press contributed to this report