The Green Bay Packers had an operating loss of $1.1 million during the 2025 season, according to the NFL team’s annual financial statements released Friday.
The figure was down from an $83.8 million profit for 2024, and it was the first loss for the team since the 1989 season, outside of the COVID-19-impacted 2020 season played without fans at Lambeau Field.
“The Packers are in very strong financial shape, and we’re going to invest whatever it takes to field a championship-caliber team,” Packers CEO Ed Policy said during a video call with reporters. “The NFL is more competitive than ever, both on and off the field. It’s more expensive than ever to run an NFL team.”
The loss was triggered by a $130 million increase in player costs to $440 million, including more than $70 million in player benefits. Policy called it an “abnormal year” on the player cost side “driven by the structure and timing of player contracts.” He highlighted the trade for Micah Parsons, which included a new $188 million contract with a $44 million signing bonus, as well as the releases of Jaire Alexander, Elgton Jenkins, and Nate Hobbs, and the trade of Rashan Gary.
The loss is an anomaly due to the inflated player costs, but it is a rare financial misfire in a league where team stakes are getting sold at more than $10 billion, and the average team EBITDA is $150 million. Note that the Packers’ operating loss does include tens of millions of dollars in non-cash charges tied to depreciation. The club wouldn’t specify the total depreciation but said it was increasing due to construction projects around Lambeau.
