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The Green Bay Packers announced $432.6 million in national revenue for the 2024 fiscal year, marking another financial milestone as the team continues training camp ahead of the 2025 NFL season. The report was shared by team president Mark Murphy, who is preparing to retire after more than 18 years in the role.
Murphy, speaking with ESPN’s Rob Demovsky, reflected on the league’s explosive revenue growth during his tenure.
“I continue to be amazed by the popularity of the NFL and by the league office's ability to generate revenue,” Murphy said. “It's impressive.”
When Murphy took over as Packers president in 2007, the franchise’s financial report showed $138 million in total revenue. The nearly $300 million increase since then highlights the NFL’s rising media rights deals and the league’s expansion into streaming platforms.
“That's mostly the growth in the national TV deals,” Murphy said. “The league has it so they're trying to grow at about a 7% growth rate annually. And then the other thing I think the league's done a good job of is moving more towards streaming, but still a vast majority of our national revenue is coming from broadcast television.”
As the NFL’s only publicly owned team, the Packers are required to disclose their finances annually, offering a rare look into league-wide revenue-sharing. National revenue now accounts for roughly 60% of the Packers’ total earnings.
Packers strengthen financial reserves amid continued investment in Lambeau upgrades
Murphy, along with chief financial officer Maureen Smith and treasurer Karl Schmidt, reported that the Packers' profit from operations climbed from $60.1 million to $83.7 million. Local revenue also rose, reaching $286.4 million — up from $251.8 million the prior year — boosted by the team hosting a ninth regular-season home game under the NFL’s 17-game schedule.
The organization’s corporate reserve fund now stands at $579 million, up from $536 million. During Murphy’s time leading the franchise, the Packers have funneled approximately $675 million into upgrades at Lambeau Field and surrounding team facilities. A renovated locker room was among the latest improvements unveiled this week.
Because the Packers are owned by over half a million shareholders, they do not rely on private equity or minority stake sales to raise funds, unlike other NFL teams. The team states that 5,204,615 shares are held by 539,029 shareholders, with no dividends paid and no single person allowed to hold more than 200,000 shares.
“We don't have a deep-pocketed wealthy owner, so that's one of the things we've tried to do over the years is to build up the corporate reserve fund,” Murphy said. “I think it's especially important now with other teams' ability to sell minority shares as well as private equity up to 10% of their value.”
On the field, the Packers went 11-6 during the 2024 season and reached the NFC Divisional round, where they were defeated by the eventual Super Bowl LIX champion Philadelphia Eagles. Quarterback Jordan Love threw for 3,389 yards, 25 touchdowns, and 11 interceptions across 15 games, posting a 63.1% completion rate and a 96.7 passer rating.
