What happened: The Green Bay Packers disclosed a $1.1 million operating loss for 2025, per Packers.com, driven by a $131.7 million jump in player costs from new contract structures and accelerated charges on released and traded players' deals, including the Micah Parsons trade that has him targeting a mid-October return. National revenue climbed 4.8% to a record $453.2 million.

Why it matters: Green Bay is the NFL's only publicly owned team, forcing it to open its books while other franchises keep finances private. Chairman and CEO Ed Policy said the club faces no major financial concerns but is watching how private-equity access to capital lets rival owners outspend Green Bay's model.

What to watch: Green Bay's lease at Lambeau Field, set to become the league's oldest stadium, runs through 2032, with the club flagging the need for further investment there.