Packers lost $38.8 million in fiscal year 2020

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Packers president Mark Murphy predicted before last season began that the financial impact from the pandemic would be “significant.” The NFL, indeed, was not immune from COVID-19 and the effects on its bottom line.

The Packers lost $38.8 million in the last fiscal year that ended March 31, the team reported Friday.

“It was the first time we haven’t had a profit in over 20 years,” Murphy said, via Bill Huber of SI.com.

The last operating loss for the team was before the 2003 stadium renovation.

The Packers were one of 13 teams to play in front of no fans at home. The Cowboys led the league, averaging 28,187 fans at AT&T Stadium for their eight home games.

The NFL’s smallest market team, and the only one that publicly discloses its financial records, did not need to tap into its corporate reserve fund. Its local revenue dropped from $210.9 million in fiscal year 2020 to $61.8 million in fiscal year 2021.

The Packers reported $371.1 million in total revenue, down from a record $506.9 million in the 2020 fiscal year.

“COVID obviously impacted the Packers from a financial perspective,” Murphy said. “Our local revenue was significantly impacted. Still, we really feel that we remain in a strong financial position going forward and that we will continue to be able to provide the resources for the organization to be successful both on and off the field. As we all faced health and economic challenges with the pandemic, we really feel we emerged in a very good financial position.”

However, the Packers’ national revenue share was $309.2 million, meaning the NFL’s 32 teams split $9.894 billion, an increase of $42 million with expanded playoffs helping offset some of the losses.

The league, with a 17-game regular season, is expected to surpass $10 billion for the first time in fiscal year 2021, which began April 1.

“It’s a real credit to the league that we were able to play a full slate of regular-season games and postseason games,” Murphy said. “It was really crucial. We knew if we were able to get all the games broadcast that that would cover all of our player expenses.”

45 responses to “Packers lost $38.8 million in fiscal year 2020

  1. Yep.

    And this is why I thought they would deal Rodgers. So strange they haven’t deal him to Denver. So strange.

  2. “It was the first time we haven’t had a profit in over 20 years,”

    Cry me a river.

  3. They probably have plenty of cash, especially when you’re able to depreciate player contracts.

  4. An aberration. Will be back to big numbers in the green this year, and the one after, and the one after that.

  5. All teams lost in that neighborhood last year, unfortunately with the Covid there was no way to avoid it.

  6. And the 38.8 was a loss from operations. Overall net income was over 60 million, which was more than 2019.

  7. This is why all along Rodgers didn’t want to play for the Packers. He knew that they were losing money and wanted to help offset their financial losses. He puts others before himself. All those stories about him being selfish are false. The man has a big heart.

  8. The Packers are the only team to release a financial report because they are a public, non profit organization.

  9. sterling7 says:
    July 16, 2021 at 5:25 pm
    All teams lost in that neighborhood last year, unfortunately with the Covid there was no way to avoid it.

    9 3 Rate This

    —————-

    Not true at all, especially owners with diversified portfolios. Indy didn’t sign anyone in FA with all their cap space for a reason. Lack of cash flow.

    If the owner is involved in other successful businesses, they just absorb it that way.

    Some businesses have actually flourished during Covid.

  10. johnnylarue says:
    July 16, 2021 at 5:25 pm
    And the 38.8 was a loss from operations. Overall net income was over 60 million, which was more than 2019.

    7 5 Rate This

    ——————-

    NFL as a whole last year lost 4 billion.

  11. Anyone can say they lost money with creative accounting. This is the equivalent of when the sports book cry about losing money on a single game. Yet they made a boatload on all the others. Im going to say the Packers checkbook is doing just fine, especially since they claim they only “lost ” money in 1 out of 20 years

  12. Get ready for higher ticket prices next year. I’m sure beer, hotdogs and parking will increase as well. They will work at getting it back some how.

  13. johnnylarue says:
    July 16, 2021 at 5:25 pm
    And the 38.8 was a loss from operations. Overall net income was over 60 million, which was more than 2019.

    ——————————

    I bet most companies wish they didn’t have to spend money on electricity, employees, marketing, etc… and keep all of the income for themselves. It’s almost like businesses have to spend money to make money.

  14. Get ready for higher ticket prices next year. I’m sure beer, hotdogs and parking will increase as well. They will work at getting it back some how.

    —————————————————-

    Like every other business after the pandemic. That’s why it’s called a business!

  15. New England lost the most $$$$ of any team. Not to mention 98% of their fanbase.

  16. Due to the singular public nature of the Packers structure they are a litmus test for all the private teams in the league (you’re welcome.) They all lost a similar amount, some more or less. Is this a surprise to anybody?

  17. Let’s not sign a quarterback who makes $38.8 million per year then?
    /////
    Yeah let’s blame this all on a Hall of Fame QB who has kept the team relevant for 15 years.

  18. ghjjf says:
    July 16, 2021 at 5:45 pm
    That’s a lot of $25 hot dogs and $20 beers that were not sold!

    ——————————

    If you think that’s the cost of beer and hot dogs at Lambeau, you’ve never been there.

  19. Playoff teams like the Packers helped soften the fiscal blow to all those third and fourth-place teams out there.

  20. That’s called clever accounting. The owners are making money. Every one of them. All the time.

  21. Let’s not sign a quarterback who makes $38.8 million per year then?
    —–
    2021 salaries:

    Chiefs QB Patrick Mahomes: $45 million.
    Cowboys QB Dak Prescott: $40 million.
    Texans QB Deshaun Watson: $39 million.
    Seahawks QB Russell Wilson: $35 million.
    Packers QB Aaron Rodgers: $33.5 million.
    Rams QB Jared Goff: $33.5 million

    Only one of these were league MVP last year. Not a bad value imo

  22. Yikes, I’ll be addressing this at the shareholder meeting. Among other things. I want answers.

  23. sterling7 says:
    July 16, 2021 at 5:25 pm
    All teams lost in that neighborhood last year, unfortunately with the Covid there was no way to avoid it.
    ——————————————————————————————–
    True but with the favorable corporate tax structure they all will be able to recoup way more then they lost in the coming years because of being able to pay less taxes for years after a loss .

  24. Just bring an extra $700 to the game next year so you can feed your family of 4.

  25. One of the many reasons why the Packers lost money, maintenance on their trophy case holding 4 Lombardi Trophies. Something the Vikings and Lions never have to worry about.

  26. touchback6 says:
    July 16, 2021 at 5:16 pm
    Yep.

    And this is why I thought they would deal Rodgers. So strange they haven’t deal him to Denver. So strange.
    ___________________________________________________________________________________________________________________________________________
    Teams losing money due to the pandemic (not having fans in the stadium as an example) is why you thought the Packers would deal Rodgers? Really? #nobrain

  27. Shocking. Teams weren’t able to fill stadiums, sell tailgate passes, or $13 beers. As others have said, teams ran at a deficit last year.

  28. So they lost $39M on $371M in revenue, so total expenses were $410M. In the prior year they had $506M in revenue with lower expenses ( lower salary cap). So the Packers made about $100M in profit in fiscal year 2020.

    An they are a SMALL market team. So you can bet that the LARGE market teams make hundreds of millions in profit EVERY year.

  29. It’s always interesting to see the only reviewable NFL team financials, which leads to several conclusions: (1) the NFL prints $; (2) the Pack is okay financially – those are post depreciation paper losses; and (3) I bet there are at least 15 teams in worse financial shape (yet with billionaire owners).

  30. harianus1985 says: July 16, 2021 at 6:38 pm
    They couldn’t even sell out their last playoff game. Let that sink in.
    Zzzzzzzzzzzzzzzzzzzzzz

    Jan. 20, 2021 at GREEN BAY, Wis. -Tickets went on sale Wednesday morning for season ticket holders who opted in at the beginning of the season. Team officials said Wednesday evening tickets were sold out within 40 minutes.

  31. dullerperformance says:
    July 17, 2021 at 3:15 pm
    harianus1985 says: July 16, 2021 at 6:38 pm
    They couldn’t even sell out their last playoff game. Let that sink in.
    Zzzzzzzzzzzzzzzzzzzzzz

    Jan. 20, 2021 at GREEN BAY, Wis. -Tickets went on sale Wednesday morning for season ticket holders who opted in at the beginning of the season. Team officials said Wednesday evening tickets were sold out within 40 minutes.
    Zzzzzzzzzzzzzzzzzzxxzzzz

    With only a Total of 6500 tickets to playoff game due to covid available.Taking 40 minutes is not that impressive at all.

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