The rainy day fund for the Green Bay Packers went over a half billion dollars during the last fiscal year.
The team released their annual financial report on Tuesday. Per the Packers, the team now holds $536 million in the corporate reserve fund.
“The corporate reserve is an increasingly important strategic asset for the organization, particularly with the changing economics of the NFL,” team president Mark Murphy said. “It helps ensure we have the resources to support our football operations and keep Lambeau Field as a top-ranked venue for our fans.”
Last year, the Packers reported the fund at $460 million.
Murphy and the Packers have long said the corporate reserve fund is to be used in emergencies for the franchise. The fund was not heavily impacted by the COVID-19 pandemic. Without a billionaire owner, the Packers need the fund to maintain longevity in a league overfilling with money.
The Packers say they have invested over $600 million into the facilities in and around Lambeau Field since 2003.
The Packers reported net income of almost $100 million and an operating profit of just over $60 million. Murphy said the Packers had a “strong year financially.” All 32 NFL teams reserved $400 million from the league in national revenue, which neared $13 billion.
While expenses for the Packers rose, total revenue, national revenue and local revenue all rose over the last fiscal year.
