From Our CBS Music Sites
MILWAUKEE (AP) The Green Bay Packers announced Tuesday that they had a record year financially, driven in large part by their 13-0 start to a season in which they were the defending Super Bowl champion.
The Packers said they had $42.7 million in net income in 2011-12, an increase of 150 percent over the previous year. Total revenue was $302 million, up 6.9 percent, largely driven by enthusiasm over a season that included a 15-1 regular-season record, team president Mark Murphy said.
“It was such a great season,” Murphy said. “It kept the excitement level at a very high level.”
As the NFL’s only publicly owned franchise, the Packers are the only NFL team required to reveal detailed financial data. The latest report didn’t include $64 million raised through a six-week stock sale around the Christmas season.
The stock sale was the fifth in the team’s history and first since 1997. Murphy said it added some 250,000 shareholders, which he predicted would help the team down the road in terms of being revenue generators.