Packers’ profit down 97.9%

The Green Bay Packers reported a profit of just $724,000 in their latest fiscal year, which included their second consecutive season without a playoff appearance, a large contract extension for quarterback Aaron Rodgers and change in head coach from Mike McCarthy to Matt LaFleur.

Green Bay’s profit in the year ending March 31 was down 97.9 percent from $34.1 million in the year ending March 2018 and more than 99 percent from the record $75 million in the previous fiscal year.

Expenses rose from $420.9 million to $477.2 million, boosted by Rodgers’ four-year, $134 million and the contracts for several free agents.

While overall revenue increased 5.1 percent to $477.9 million, local revenue improved by only 2.3 percent.

In other news:

• Walt Michaels, the former New York Jets coach who retired following the 1982 season after leading the team to the AFC title game, died Wednesday. He was 89. The former Cleveland Browns linebacker was the defensive coordinator of the Jets’ Super Bowl-winning team in the 1968 season. He was head coach from 1977-82. The Jets reached the AFC title game after the 1982 season before losing to the Miami Dolphins. Michaels later coached the New Jersey Generals of the USFL for two years in 1984-85.

• New York Jets secondyear tight end Chris Herndon was suspended without pay by the NFL for the first four regular-season games for violating the league’s substance-abuse policy. Herndon pleaded guilty in January to driving while intoxicated in New Jersey in June 2018. The incident occurred about a month after he was selected by the Jets in the fourth round of the NFL draft out of Miami.

• Oakland guard Richie Incognito was suspended without pay by the NFL for the first two games of the regular season for violating the league’s personalconduct policy. Incognito pleaded guilty in April to disorderly conduct in Scottsdale, Ariz., after being accused of threatening employees at a funeral home where his father’s body was being held. The Raiders signed Incognito in May. He sat out last season in retirement.