Packers enjoy another record financial year
the Associated Press with Jay Sorgi
MADISON - The Green Bay Packers have put together another record financial year.
Team officials announced Tuesday they took in a record $308.1 million in total revenue over the last fiscal year, up 2 percent from 2012.
The team also generated a record $54.3 million in profit, up 26.4 percent, and a record $43.1 million in net income.
The Packers also cut their expenses by 2 percent, from $259 million in 2012 to $253.8 million.
Team President Mark Murphy says a $19 million reduction in player costs played a huge role in shrinking expenses.
Murphy said the team's numbers didn't include the big contract extensions quarterback Aaron Rodgers and linebacker Clay Matthews signed in April.
Those deals will count toward next year's figures.
Because the Packers are a non-profit stock corporation, it must release its financial records on a yearly basis.
Also, that non-profit status means that shareholders do not receive revenue, so the profit can get re-invested back in the team.