Packers lost $ 38.8 million in fiscal 2020

Packers president Mark Murphy predicted before the start of last season that the financial impact of the pandemic would be “significant.” The NFL, in fact, was not immune to COVID-19 and its effects on its results.

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

“It was the first time we had no profits in over 20 years,” Murphy said, via SI.com’s Bill Huber.

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

The Packers were one of 13 teams to play in front of a fan at home. The Cowboys led the league, averaging 28,187 fans at AT&T Stadium in their eight home games.

The NFL’s smallest market team, and the only one to publicly disclose its financial records, didn’t need to dip into its corporate reserve fund. Its local revenues grew from $ 210.9 million in fiscal 2020 to $ 61.8 million in fiscal 2021.

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

“COVID obviously impacted the Packers from a financial standpoint,” Murphy said. “Our local revenues have been significantly impacted. Nonetheless, we truly believe that we remain in a strong financial position going forward and that we will continue to be able to provide the necessary resources for the organization to be successful on and off the pitch. While we have all faced health and economic challenges with the pandemic, we truly believe we came out in a very good financial position. “

However, the Packers’ domestic revenue share was $ 309.2 million, meaning the 32 NFL teams shared $ 9.894 billion, an increase of $ 42 million with the extended playoffs helping. to make up for some of the losses.

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

“It’s a credit to the league to have been able to play a full roster of regular season and playoff games,” said Murphy. “It was really crucial. We knew that if we could broadcast every game it would cover all of our players’ expenses. “