Few, if any, teams in the NFL mean as much locally as the Green Bay Packers. Therefore, it shouldn’t be a surprise how hard the franchise was hit by fan restrictions due to COVID-19.
Last week, the Packers released a financial report detailing their fiscal health after last season. The team’s net income for the year was still positive, thanks to “mostly unrealized investment gains as of March 31, the end of the most recent fiscal year.” However, the operating losses were heavy.
The team lost $38.8 million in total, down from the $70.3 million operating profit they turned in the year before. An eye-popping amount of that damage was done locally, as the Packers went from making nearly $211 million in 2019-20 to $61.8 million in 2020-21.
“The Packers suffered local revenue losses of $149.1 million last year, a staggering amount that highlights the multiple billion in losses throughout the league due to the presence of limited or no fans at games,” writes Pro Football Talk.
As the only NFL team to release a financial report, the Green Bay Packers have shed light on last season’s struggles.
Game-Day Revenue
2019-20: $211 million
2020-21: $62 million (-70%)The Packers suffered their first operating loss (-$38.8M) in more than 20+ years. pic.twitter.com/cWGWZ3MMS3
— Joe Pompliano (@JoePompliano) July 16, 2021
Now, fortunately for the Packers and any other NFL teams, we are expected to have stadiums at full capacity for this season.
There is a chance that could change in some areas depending on how hard they have been hit by the COVID-19 Delta variant, but for now, we’re looking at full buildings leaguewide.
Green Bay’s transparency with its finances just illustrates how widespread the fallout was from the 2020 pandemic season though.
The post Telling Details Emerge From Green Bay’s Revenue Losses appeared first on The Spun.
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