Every NFL team receives $453 million before a single ticket is sold. That's the business

Almost two weeks into the book — hope you're reading it and telling friends. An Amazon review goes a long way if you're willing.

Today I want to talk about the team I cover in four chapters: the Green Bay Packers. They held their annual shareholders meeting today — the only NFL team that opens its books to the public — and one number jumped out at me that tells you everything about what a business the NFL really is.

Every team. All 32. Receives $453 million annually from the league before they turn the lights on. Before a single ticket is sold. Before a dollar of local revenue. The salary cap is roughly $280 million. Add another $75 million in benefits. That's still an $80 million surplus — just from the national revenue distribution — before any stadium revenue, club seats, naming rights, pro shop sales, or concerts.

Yes, the Packers had an operating loss this year. The Micah Parsons trade created significant accelerated player costs. It happens. The Packers are fine. Let's not panic.

The real story is what that $453 million number tells you about the NFL — and why franchise values keep going up no matter what happens on the field.