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Profit drops 98% in latest fiscal year

Discussion in 'Green Bay Packers Fan Forum' started by gonzozab, Jul 13, 2019 at 7:42 AM.

  1. gonzozab

    gonzozab Cheesehead

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  2. GreenBaySlacker

    GreenBaySlacker Cheesehead

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    That means the GBP is a huge buy......:)
    Boom time.
     
  3. captainWIMM

    captainWIMM Cheesehead

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    You might want to mention that revenue increased over the last fiscal year though. It's not a surprise that the profit dropped with the Packers having signed Rodgers to an extension and spending big in free agency this offseason.
     
    • Agree Agree x 1
  4. gbgary

    gbgary Cheesehead

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    expenditures almost equaled money made. an oddity as they explained. it's also what we've been hoping for for several years (them spending money).
     
  5. PackerDNA

    PackerDNA Cheesehead

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    Exactly. I'd be curious to know our net worth as a franchise and where we rank in the league.
     
  6. Mondio

    Mondio Cheesehead

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    It's like the kid I went to school with in college who lived on a million dollar estate, parents had a lake "cabin" with about 150 feet of sandy lake front and 25 years ago it was sitting at over 500K in worth, and he got more grant money than anybody because of how they moved the money. They invested heavily prior to him going to college in their ginseng business. They could sink a ton of money showing losses for that period, despite all of their heavy assets, since the debt for all of the investment in ginseng it wiped it all out on paper and he qualified for a lot of free money. In 5 or 6 years when it all matured for harvest of course they'd make a ton, but it's all about the timing on paper and for his 4 years at college, he qualified for a lot of free to him money. Pretty shrewd financials in that family.

    This isn't much different. They made a lot, they spent a lot in investments and counted them up front in their books. I think too much is being made of this report, mostly because they're the only team that has to report it publicly.
     
  7. gbgary

    gbgary Cheesehead

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    • Informative Informative x 1
  8. PackerDNA

    PackerDNA Cheesehead

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    Thanks gbgary.
    Not too bad for a small town operation.
     
  9. gbgary

    gbgary Cheesehead

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    yup. that's due to a great fan base, profit-sharing, the tv deals, and everything else the nfl, and each team, does to make money.
     

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