The Green Bay Packers announced Thursday it broke revenue records this past fiscal year, April 2013 through March 2014, bringing in $324 million, compared to $308 million from the previous year.
"I would say another successful season on the field and great fan support propelled us to an all-time high," said Packers President and CEO Mark Murphy.
But the organization's expenses were higher and their profit lower than in previous years, making just $25 million, a 41 percent drop from the previous year.
"It's really timing of player contracts, if you look at it, I believe our player costs are up $35 million from the previous year to this year," said Murphy.
He adds some of the team's new football facilities are now being depreciated on the income statement, affecting profits.
Investment in players and new facilities, while costly, ensures the future of a Packers program, he believes.
"We want to make sure that Lambeau Field continues on," Murphy says. "I think that's obviously a priority, it's just an iconic stadium. I think with some of the changes, we've hopefully enhanced it."
The investment goes beyond the walls of Lambeau Field. Murphy says the Packers will put money into developing what he calls Titletown.
"Very pleased with the initial step last year with Cabela's. I think that's been a great addition," said Murphy. "We're continuing to study different things we can do around the stadium, with a real focus on the west side of the stadium, in terms of creating, er, making Green Bay an even more of a destination to bring more visitors in the community."
Mona and William Shipman of Kenosha are visiting Lambeau Field Thursday. They told Action 2 News they like the changes and appreciate the team's investment in its loyal fans.
"That means we're not going anywhere, we're going to be in green bay a long, long time," said Shipman, happily, of the Packers.
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