Yahoo Sports· 1h ago· 1 min read
Edit via Liam McGuire This week, the sports media world gasped as layoffs hit high-profile names across ESPN, including at NFL Network and the show NFL Live . But while ESPN may be cost-cutting in the wake of its January 31 acquisition of NFL Network and RedZone, its counterparty is rolling in it.
The NFL exchanged those two media assets (plus its fantasy football platform) for 10 percent of ESPN, and that deal is already boosting the bottom lines of its teams. The Green Bay Packers, the only team in the NFL to publicly report earnings, told reporters today on a call that a massive $133.6 million jump in non-operating income was due to investment gains, as well as the NFL Network transaction. The year before, non-operating income was $1.9 million.
“It’s a gain,” said Maureen Smith, the Green Bay Packers’ chief financial officer. “It is on the balance sheet. Our 1/32nd share of this…
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