Packers Reveal Record $432.6M in NFL Revenue Sharing - A Window Into League-Wide Financial Performance
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NFL Revenue Sharing Hits All-Time High
The Green Bay Packers announced Wednesday that they received a record $432.6 million in national revenue sharing from the NFL for the 2024 fiscal year, representing a 7.5% increase from the previous year's $402.3 million.
This figure provides unique insight into the NFL's financial health, as the Packers are the league's only publicly owned team and must disclose their financial statements annually. With all 32 teams receiving equal revenue sharing, this means the NFL distributed over $13.8 billion in national revenue during the fiscal year.
What the Numbers Tell Us About Other Teams
The Packers' financial transparency offers a rare window into how other NFL franchises are performing:
National Revenue Baseline: Every NFL team received the same $432.6 million in shared revenue, which comes from broadcast rights, league sponsorships, licensing, and international business. For the Packers, this represents about 60% of their total revenue.
Local Revenue Benchmark: The Packers generated $286.4 million in local revenue, ranking them approximately 11th among NFL teams according to industry analysis. This suggests top-tier markets like Dallas, New England, and Los Angeles likely generate significantly more local revenue, while smaller markets generate less.
Total Revenue Calculation: The Packers' total revenue of $719 million ($432.6M national + $286.4M local) provides a baseline for estimating other teams' performance. Higher-revenue teams in major markets could be approaching or exceeding $800-900 million in total revenue.
Revenue Growth Trajectory
The NFL's revenue sharing has grown dramatically under the current leadership. When Packers CEO Mark Murphy began reporting in 2007, teams received just $138 million each, meaning national revenue has more than tripled in 18 years.
Murphy attributed the growth primarily to television contracts, noting the league targets approximately 7% annual growth. The current TV deals with CBS, Fox, NBC, ESPN, and Amazon run through 2033, though the NFL is expected to opt out after 2029 for renegotiation.
Operating Performance
The Packers reported $83.7 million in operating profit, a 39% increase from the previous year. This improvement came from both the revenue sharing increase and hosting nine regular-season home games for the first time (due to the expanded 17-game schedule).
The team's corporate reserve fund grew to $579 million, which Murphy described as their "equivalent of a deep-pocketed, wealthy owner," since the Packers cannot accept private equity investment like other teams.
Industry Implications
These figures underscore the NFL's position as America's dominant sports entertainment property. With 93 of the 100 most-watched TV broadcasts in 2023 being NFL games, the league continues to command premium pricing from broadcasters and streaming services.
The revenue sharing model ensures competitive balance by giving all teams an equal foundation, while allowing market-based local revenue to reward successful operations and larger markets.
