A lot of fans were surprised to see the Green Bay Packers make a profit this fiscal year after emerging quarterback Jordan Love led the team to a playoff run. Turns out, the NFL also earned a big bag money during the same period.
The Packers announced a record-breaking $60.1 million in profit from operations for the 2024 fiscal year. This marked a strong financial performance for the NFL’s smallest-market team, despite a 12.5% decrease from the previous year’s $68.6 million profit.
The main driver was a substantial increase in national revenue from the league, which provided the Packers with $402.3 million. Combined with local revenue growth of 6.7% to $251.8 million, the team’s overall revenues remained robust. However, rising costs associated with stadium depreciation and player salaries offset some of these gains.
Packers President and CEO Mark Murphy attributed the team’s financial success to the continued popularity of the NFL, with 93 of the 100 most-watched TV broadcasts in 2023 being NFL games. He noted the league’s strategic approach to streaming, such as the new Christmas Day package on Netflix, as an avenue for future revenue growth to support player salaries and stadium improvements.
Looking ahead, the Packers are preparing for a leadership transition, with Murphy set to retire in 2025. The team’s strong financial position should enable them to field a competitive team under the new management, though Murphy cautioned about potential challenges from evolving league economics, including changes to revenue sharing.
Green Bay Packers 2024 Fiscal Report Reveal NFL’s National Revenue for Past Year
Along with Green Bay earning $60 million in profit, the NFL as a whole also benefitted from the current fiscal year. In an article written by Mike Florio for NBC Sports, it’s revealed that the league earned around $13 billion in revenue.
“Thanks to the Packers and their unique structure, the team must release financial information every year to its shareholders. This year, the numbers show that the Packers and their 31 partners are doing very, very well. As usual.
The Packers list $402.3 million in national revenue. That’s the payment that goes to every team. That equates to $12.873 billion for the entire league.
That’s a 7.5 percent bump from last year, when the national revenue was just under $12 billion. It’s also $127 million lower than last week’s report that the national money made it to the $13 billion number.”
Soon enough, the league will return and Patrick Mahomes’ Kansas City Chiefs will be back to defend their title while attempting a three-peat. The Packers, in turn, will do their best to surpass what they’ve achieved during the previous season. These compelling storylines are among the few that can potentially draw fans and help the league grow more as a whole.
It remains to be seen how much Green Bay and the NFL will earn by this time next year. If the last season is any indication, there’s a strong chance both parties can match, or even exceed what they achieved recently.
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