si
GREEN BAY, Wis.
The Green Bay Packers on Friday released their financial statement for the 2026 fiscal-year that ended on March 31.
The team lost $1.1 million, a sharp dropoff fueled by soaring player costs.
I want to start with two critical points, Packers President/CEO Ed Policy said at Lambeau Field on Friday.
The first one is, No.
1, the Packers are in great financial shape.
And then, No.
2, were going to continue to invest whatever it takes to field a championship-caliber team.
But as weve been talking about, especially over the past year, and as you all know, the NFL is more competitive than ever, both on and off the field.
Policy pointed to last years blockbuster trade for Micah Parsons as a reason why the Packers went from a profit of $83.7 million to a small loss.
Its not just because Parsons was added to the financial ledger but because Kenny Clark was traded.
As with the salary cap, the rest of Clarks signing bonus hit the teams financial statement.
The Packers also released Jaire Alexander, Elgton Jenkins and Nate Hobbs and traded Rashan Gary.
Policy called it the cost of doing business in todays competitive NFL.
The Packers reported a $33.9 million increase in revenue.
That includes national revenue increasing to $453.2 million from $432.6 million.
Based on that $453.2 million, the 32 teams shared about $14.5 billion a colossal number.
However, the cost of doing business isnt getting any less expensive.
The Packers expenses were $754.1 million, a huge increase over the $635.4 million from last fiscal-year.
The Packers have financial limitations not faced by the other 31 teams.
Its not just that they are a small-market team without a deep-pockets owner.
Those have been factors throughout the history of the franchise and will continue in perpetuity.
Now, its the ability of teams to sell a stake of up to 10 percent to private equity of other investors.
Policy pointed to the Miami Dolphins recently selling a 1 percent stake in the team and pocketing $125 million.
Its like other teams kind of have access to this ATM machine that we just dont have, Policy said.
While the salary cap limits player spending, teams can use that windfall no different than how the Packers used the money from previous stock sales.
That money can be used to upgrade facilities and hire coaches to help improve the on-the-field product.
Adding Revenue With Naming Rights So, how do the Packers, who remain in the second quartile in revenue, keep up in what Policy called a financial arms race? One, theyll look to increase local revenue.
The Packers managed to do that last year, going from $286.4 million in fiscal-year 2025 to $299.8 million in fiscal-year 2026 even while going from nine regular-season home games to eight.
I would have gone down and bought a few more sweatshirts and jerseys if I knew we were that close to $300 million, Policy joked.
Policy mentioned selling naming rights not to the stadium but to other assets.
At this point, were not considering adding any names to Lambeau Field in any fashion, Policy said when asked about a theoretical Krolls Field at Lambeau Field.
I know some things that we said earlier in the year were taken out of context in that regard, Policy added.
Were not selling the naming rights to Lambeau Field, but we are looking at other parts of what I consider to be our campus, including Titletown.
That process has begun.
The football field in the Titletown District is now the Emplify Health Field.
Naming rights for the teams practice facility could be sold.
The Packers will continue to host more offseason events.
In May, the Packers held two Luke Combs concerts.
On Sept.
6, Wisconsin will face Notre Dame in a college football showdown a decade in the making.
Mostly, college football games and soccer games will be the focus, Policy said.
He hinted at a winter event.
He wouldnt give any details, other than to say it wasnt curling.
They're very good for us in terms of revenue generation, but I think they're also really good for the community and the rest of the local economy, he said.
The draft, on the other hand, was not a moneymaker, not that it was intended to be one.
That is a league event and the NFL takes the profits.
How About 18 Games? The 500-pound gorilla in terms of creating revenue would be the NFL expanding to an 18-game schedule.
That would have to be collectively bargained with the players.
The (NFL) Players Association just went through a leadership change, so I dont see us doing that change anytime soon, Policy said.
But, yeah, as we sit here today, I would be in favor of an 18-game season.
The NFL in 2021 went from 16 regular-season games and four preseason games to 17 regular-season games and three preseason games.
This potential change would be 18 regular-season games and two preseason games.
Policy disagreed with the notion that the players would bristle against the idea because the additional revenue would be shared with them.
I dont know that they would disagree, he said.
Youre giving up a preseason game for a regular-season game, but I think it would also increase the revenue quite a bit.
And the good thing about our model with our salary cap is the salary cap is based on revenue, so we are true partners in terms of generating revenue with our players.
So, anything that generates revenue increases their compensation, as well.
So, thats why I think many players would be in favor of it.
Going to 18 games probably would mean every team would have an international game every year, so thered be nine home games for some seasons and eight for others.
So, that wouldnt necessarily change the bottom line for the Packers, who will play nine home games this season.
However, an 18-game season would drive up TV contracts hence, more revenue for teams.
The Bottom Line Raising ticket prices beyond the teams usual goal is not in the cards.
We have to balance whats right and whats fair to the best fan base in all of sports with what its going to take to really field the resources that its going to take to field a championship-caliber team, Policy said.
When it comes to being a little more aggressive with revenue, we are going to have to look at our ticket pricing strategy.
We are going to stick with our strategy of staying somewhere in the middle of the pack in terms of our average ticket price.
But even thats going to become more and more difficult as you get these new and refurbished stadiums coming online, which are only going to increase ticket prices.
So, our goal will remain to have a ticket price that is somewhere in the middle, despite the fact Im assuming a top-three team in terms of demand.
That the Packers didnt turn a profit this year isnt a big deal.
They dont make blockbuster, franchise-changing transactions every year.
Thats why Policy said the team is in a very solid financial footing.
But the team simply doesnt have the resources of some other teams.
That will challenge it in the long run.
Importantly, the Packers corporate reserve fund ticked past $700 million, Policy said.
Thats the teams rainy-day fund, and it took more than 30 years to hit that level.
Teams with a private ownership structure could sell a 10 percent stake in the team and blow past that in months.
I feel great about where we are in the short term and in the medium term, Policy said.
But we are keeping a close eye on some of the current trends and how they might impact our long-term financial health.
We do have to make sure that were always in a position where we can continue to invest wisely in whatever it takes to field a championship-caliber team, whether thats player costs, football staff or facilities.
We just have to make sure that Brian (Gutekunst), Matt (LaFleur) and Russ (Ball) are always in a position where they have every tool in their toolbox that every other team has to build a roster.
Bill Huber, who has covered the Green Bay Packers since 2008, is the publisher of Packers On SI, a Sports Illustrated channel.
E-mail: [email protected] History: Huber took over Packer Central in August 2019.
Twitter: https://twitter.com/BillHuberNFL Background: Huber graduated from the University of Wisconsin-Whitewater, where he played on the football team, in 1995.
He worked in newspapers in Reedsburg, Wisconsin Dells and Shawano before working at The Green Bay News-Chronicle and Green Bay Press-Gazette from 1998 through 2008.
With The News-Chronicle, he won several awards for his commentaries and page design.
In 2008, he took over as editor of Packer Report Magazine, which was founded by Hall of Fame linebacker Ray Nitschke, and PackerReport.com.
In 2019, he took over the new Sports Illustrated site Packer Central, which he has grown into one of the largest sites in the Sports Illustrated Media Group.