The Packers continue to be a profitable NFL franchise. But they weren’t as profitable in 2022 as they were in 2021.
Via Ben Fischer of Sports Business Journal, the team’s operational profits declined by 11.7 percent.
The Packers still made $68.8 million, which means a bake sale (or another sale of non-stock stock) won’t be needed.
Net income was even lower than that, due to a $20.5 million investment loss, due to a decline in the stock market.
As Fischer notes, revenue was down because the Packers swapped a home game at Lambeau Field for a home game in London.
Expenses were up as a result of the team’s share of the $790 million settlement with St. Louis, following the relocation of the Rams.
A much larger increase will happen this year, when the new wave of media deals kicks in.
Last year, only Amazon hit the books; this year, new arrangements with NBC, ABC/ESPN, CBS, Fox, and YouTube will commence.
So the Packers and every NFL team will continue to make plenty of money. Which is no surprise.
The NFL gathers a live audience like nothing else, and it has been for years the most compelling reality show on any platform.