Packers' Profits Cut in Half, More Evidence for Impending Lockout
In news that is likely to make every Bears fan happy, the Green Bay Packers announced today that their operating profits have dropped by more than 50%. According to the team's website their profits dropped to $9.8 million over their last fiscal year which ended March 31st. This was the third consecutive year in which the operating profits have declined for the team. This most recent decline comes at the same time the team saw an increase of $10.1 million, but due to the rising player costs ($22.1 million increase) the team lost $10.3 million. [photogallerylink id=3728 align=left]The issue of rising players costs will undoubtedly be a hot topic as the labor negotiations pick back up. Many owners feel as if the league minimum salaries are contributing to their financial woes as much as the high end contracts. While seeing the Packers lose money should make Bears fans happy today, it could be foreshadowing of a lockout after this upcoming season.
