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Packers release annual financial report

Posted: 3:00 PM, Jul 12, 2019
Updated: 2019-07-12 23:47:15-04
Lambeau Field

GREEN BAY, Wis. — Packers President and CEO Mark Murphy said that the team made more money this year and spent more money this year.

He released the team's annual financial report on Friday. The Packers are the only NFL team to release these numbers.

Last year, the Packers brought in $454.9 million. This year, that number went up to $477.9 million. However, expenses went up as well. The Packers spent $477.2 million this year compared to $420.9 million a year ago.

When you add in all the other factors, the Packers made $8.4 million this year. That number, net income, was $38.6 million last year.

"I think if you take out those atypical expenses, our profits would be at a fairly normal level," Murphy said.

Murphy cited four unusual costs: a league-wide concussion settlement, the 100 seasons celebration, free agent signings, and a coaching change.

"The continuity and the stability there had really served us well, but we really felt we needed to make a change, and with that, there's a financial hit," Murphy said.

Murphy's hope is that this year, those expenses like free agency and the coaching change can improve the product on the field and ultimately bring more money into the franchise.

"Missing the playoffs for two years in a row, it's had, I wouldn't say a huge effect, but it's had an impact on our local revenue," he said.

Murphy said Titletown is another reason for optimism moving forward. Factoring everything involved, the total investment there so far is around $170 million.

"Our expenses at this point are much higher than revenue, but it's been well received I think by the community and I think the next phases will be very beneficial and help us," Murphy said.