Packers disclose revenue of $374,400,000 from NFL, contributing to $11.98B overall profit for 32 Teams

The NFL's financial report for 2022-23 is in, and it shows positive results.

On Wednesday, the Sports Business Journal's Ben Fischer obtained documents from the Green Bay Packers, showing that the league earned $11.98 billion for last season, a 7.8% increase from 2021-22. Each team, including the Packers, contributed $374 million.

The NFL's media revenue already took a big bump thanks to the Amazon Thursday night deal, but it is expected to only get bigger come 2023, coinciding with its new $110-billion television package, which, among all other things, gives all the Big Four networks (NBC, CBS, Fox, and ABC) the right to air the Super Bowl. Packers president and CEO Mark Murphy commented:

“Those have built-in increases in them, and this year, we’re in right now, will be the first year of the new TV deals. The ratings are very strong for the NFL.”

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How much did the Green Bay Packers themselves earn in 2022?

The documents also reveal that the Packers themselves had $610.3 million in total revenue. Besides the national revenue, they also had a local revenue of $235.9 million. Against $541.6 million in expenses, they posted an operating profit of around $68.7 million, as well as a net income of $35.6 million.

While the growth rate was significantly down from 11.7%, it is still a 68% improvement from six years ago, when the national anthem protests led to skepticism over the popularity of the league. The decrease in growth came down to two factors: 1) a decrease in local revenue caused by moving a home game to London and 2) a contribution to the NFL's $ 790-million settlement with the city of St. Louis, Missouri, to prevent a trial over the Rams' 2016 relocation to Los Angeles.

The expenses increased by 8%, primarily driven by said share of the settlement, but also by a return to full staff operations after two seasons.

Speaking about the team's financial health, Murphy said:

“I’d say it was another strong financial year for the Packers, our second year of normal operations after the pandemic.”

Commissioner Roger Goodell has recently been outspoken about wanting his league to reach $25 billion in revenue, so the Packers will have to play better under new starting quarterback Jordan Love to convince more fans to attend and/or watch their games and, in turn, earn more money.