- Associated Press - Wednesday, July 14, 2010

GREEN BAY, WIS. (AP) - The Green Bay Packers posted an operating profit of $9.8 million in their most recent fiscal year, down from $20.1 million the previous year.

Team officials attribute the decrease mostly to escalating player costs, putting the team’s annual financial disclosure squarely in the middle of a contentious debate between players and owners over a new collective bargaining agreement.

As a publicly owned team, the Packers are required to report financial information to shareholders. Team officials briefed selected media outlets, including The Associated Press, on the team’s finances Wednesday.

Taking into account investment losses, the team posted net income of $5.2 million, up from 4 million last year.