The Green Bay Packers on Wednesday reported a $68.6 million operating profit for the 2022-23 fiscal year, down about 12% from $77.7 million in 2021-22.
Total revenue for the 2022-23 fiscal year was $610.3 million, up more than 5% from the prior fiscal year. Higher national television revenue was the biggest reason for the increase. Local revenue increased just under 2%, to $235.9 million.
“We’re in position to continue investing in the team, in Lambeau Field, and in the community,” president and chief executive officer Mark Murphy said. “We’re pleased we can continue supporting the football operation to remain competitive and hopefully build toward another championship.”
Total expenses for the Packers rose 8% in 2022-23, to $541.6 million.
Net income fell from $61.6 million in 2021-22 to $35.6 million in 2022-23, mostly due to stock market losses in the team’s investment fund.
The Packers’ corporate reserve fund is now at $474 million.
The team is nearing completion of $200 million in improvement projects at Lambeau Field, including new video boards and a concourse renovation.
The Packers development of the Titletown District adjacent to Lambeau Field continues, including 27 of 29 townhouses now occupied, six more under construction and apartments at 90% occupancy.
