The Green Bay Packers are a unique football franchise in many respects. They are the only publicly owned team in the NFL and as such, they are the only team that releases their annual financial details. The latest numbers are out for the most recent fiscal year, which was an immensely profitable one.
Mike Spofford of Packers.com reports that the team's 15-1 record last season and Super Bowl victory following the 2010 campaign led to a record year of income in 2011.
The team's operating profit more than tripled, from $12 million last year to a record $43 million this year, according to the organization's annual financial report. The Packers topped $300 million in total revenue for the first time, and the record profit was the result of revenue jumping $19 million while expenses fell $12 million compared to the previous year.
The team's net income rose from $17.1 million in 2010 to $42.7 million this year. The team is using profits to help with a massive stadium expansion for the 2012 season, including new video boards, a new gate and more than 6,000 new seats. It's a good time to be part of the Green Bay Packers organization.