The Green Bay Packers announce an operating loss in 2025

The Packers endured an uncommon year financially due to a combination of player acquisitions and departures. The structures of some new contracts, along with the required accounting of accelerated costs on released and traded players’ deals, all hit the ledger in the same year, which accounted for the $131.7 million increase in player costs.

National revenue increased $20.6 million, or 4.8%, to a record $453.2 million, continuing the long-term growth and partnership the Packers have with the league.

The 2025 home schedule included only eight regular-season games, down from nine in 2024. Local revenue, which encompasses ticketing, sponsorships, retail sales and events, still showed a productive $13.4 million increase despite one fewer home game.

The bottom line: The operating numbers aren’t typical of those the Packers normally see, but they aren’t setting off any alarm bells within 1265 Lombardi Ave.

“The NFL is more competitive and more expensive than ever,” Chairman of the Board, President and CEO Ed Policy said. “We want to ensure our football leadership has every tool in the toolbox to build a competitive roster, and we do.”

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“The franchise remains in great shape,” Policy said. “In the short and medium term, there are no major financial concerns, and we will continue to do what it takes to compete as the NFL landscape changes and evolves, which includes being intentional on generating more local revenue.

“We are however, keeping a very close eye on current trends and how they may impact our long-term financial health.”

Those trends relate to the challenges the Packers may face in keeping up financially with the rest of the league’s clubs, which have access to capital via private equity and limited partners purchasing small, non-controlling stakes in teams.

“It’s like other teams have an ATM that we don’t have,” Policy said, referring to private equity.

Other teams also have significant public money invested in their redeveloped or new stadiums, which allows them to spend more money on non-capped football operations.

From the Packers’ perspective, Lambeau Field – which will soon be the league’s oldest stadium – will need considerable investment for continued maintenance, as well as future improvements to remain a cutting-edge facility.

“It’s critical to have a long-term plan in conjunction with the city, county, state, and stadium district board to keep Lambeau Field both iconic and state-of-the-art,” said Policy.

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