Sports News

Packers generate $60 million profit

The Green Bay Packers put the "green" in "green and gold" this past fiscal year, according to their annual report released on Tuesday.

 

The Packers posted an operating profit of $60.1 million, which, according to Packers.com, represents a double-digit percentage drop from last year due to the depreciation of capital investments in Lambeau Field and football facilities. The Packers raked in $654 in revenue last year, which was up over $44 million compared to last year. Expenses went up over $50 million from the previous year because of contractual obligations and investments in the stadium. Amid their lease spat with the City of Green Bay, the Packers pointed out that they have invested approximately $600 million into Lambeau Field without relying on public funds. 

 

The Packers will dive deeper into the organization's finances as a part of its stockholders' meeting, which will be held at 3 p.m. inside Lambeau Field, hours after the team holds its first practice.

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