Packers' profits down 98 percent after worst season since 2008

Following an uncharacteristically poor 2018 season, the Green Bay Packers recorded a profit of $724,000 in the latest fiscal year, down 97.9 percent from $34.1 million the previous year, The Associated Press reports.

The Packers brought in a record $75 million the fiscal year prior to that.

Green Bay finished 6-9-1 and missed the playoffs for the second consecutive year. The team made the postseason each year from 2009-16.

Also affecting the franchise's bottom line was the $134-million contract extension given to quarterback Aaron Rodgers in August and the expensive firing of Mike McCarthy and hiring of Matt LaFleur as head coach.

"From a financial standpoint, it was a unique year for the Packers," admitted team president Mark Murphy.

During free agency, the team handed expensive deals to Za'Darius Smith, Preston Smith, Adrian Amos, and Billy Turner.

"We were a little more aggressive than we've been in a number of years," Murphy said.