GREEN BAY, Wis. — The Inexperienced Bay Packers acquired a file quantity of nationwide income from the NFL in fiscal yr 2024, leading to a revenue from operations of $60.1 million.
The Packers and the remainder of the NFL’s 32 groups for the primary time acquired greater than $400 million from the league. With the crew getting $402.3 million in nationwide income, meaning the NFL cut up almost $13 billion among the many groups. Final yr (fiscal 2023) was the primary time over $12 billion; the yr earlier than was the primary time over $10 billion.
Regardless of being the NFL’s smallest-market crew, Inexperienced Bay continues to generate robust revenues.
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Total, the Packers’ internet revenue was down 12.5 p.c from $68.6 million in fiscal yr 2023. Whereas native income elevated from $235.9 million to $251.8 million, the 6.7 p.c acquire wasn’t sufficient to offset the rising prices of stadium depreciation and participant salaries.
“I feel in all probability the primary takeaway is that it is one other robust yr from a monetary standpoint for the Packers, and I feel actually speaks to the recognition total of the NFL,” Packers President and CEO Mark Murphy stated on Tuesday at Lambeau Discipline.
Because the NFL’s solely publicly owned franchise, the Packers disclose their bills and revenues every year.
Enterprise is booming within the NFL. What Murphy referred to as the “strategic” streaming of video games, comparable to the brand new Christmas Day package deal on Netflix, will create further income for participant salaries and continued enhancements of the venerable stadium.
“One of many issues the league has talked about is attempting to satisfy folks the place they’re,” Murphy stated.
In 2023, 93 of the 100 most-watched TV broadcasts had been NFL video games.
“It is one of many few issues that individuals watch dwell anymore,” Murphy stated. “We’re very lucky that we’re in that place and the networks are keen to pay, however we’re additionally the place the longer term goes and, definitely, streaming is rising.”
The Packers are making ready to transition from Murphy to Ed Coverage, with Murphy set to hit the obligatory retirement age of 70 in July 2025.
With excessive hopes after making the playoffs in 2023 with quarterback Jordan Love, the Packers ought to proceed to have the monetary sources essential to area a aggressive crew.
“We’re in , robust monetary place, however there shall be challenges alongside the best way,” Murphy stated. “Issues are altering inside the league with the brand new possession, the personal fairness, new house owners, billionaires. The income sharing, I do not see that altering within the brief time period, but when that ever adjustments, that might be a difficulty.”
“We do not have a wealthy, deep-pocketed proprietor,” he added. “The economics of the league are altering fairly dramatically.”
