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Green Bay Packers = Money Making Machine

Discussion in 'Packer Fan Forum' started by stefcn, Jul 10, 2009.

  1. stefcn

    stefcn Guest

    The upper management that runs the publicly-owned Green Bay Packers may have some explaining to do the next time it attends meetings with the owners of the NFL's 31 privately held franchises. That's because recent news of the Packers' operating profit of over $20 million last year appears to hurt the owners' argument that opting out of the latest Collective Bargaining Agreement with the players was necessary. If a franchise in a miniscule market can turn a profit during a historically down economy, what does that say about big money owners like Dan Snyder and Robert Kraft?

    Think about this. Many teams over the past 18 months have laid off dozens of low payroll employees. Those moves look heartless if it turns out those teams are still bringing in millions in profit, even if it is less than it had been in recent years. Telling an employee with three kids they no longer have health benefits because the owner still wants to rake in $30 million is just bad karma, even if it can be justified as good business.

    The Packers have elected to be exceptionally frugal in recent years when it comes to player compensation. Ted Thompson and company have been non-existent in the free agent market the past three years. Instead, they have just given extensions to players already under contract like Aaron Rodgers and Greg Jennings in order to reach the mandated salary floor. That strategy is good for business and arguably a sound football decision, but it doesn't do the other owners any favors when the end of the fiscal year financial information is released by the Packers.

    A better strategy, knowing the CBA negotiations were looming, would have been to spend closer to the cap in 2008 and thus negate a lot of the revenue that was being generated. It may not have been ideal in the short term for the Packers but it sure could have strengthened the position and argument of the league going forward. In light of the Packers finances, the supposed plight of the owners' is much less convincing. I'm sure the NFL Players Association is taking notes.

    The Packers from top to bottom are financially a model franchise. Pretty cool to know that considering our size we are that efficient.
  2. PackersRS

    PackersRS Cheesehead

    Dec 22, 2008
  3. PWT

    PWT Cheesehead

    Jan 23, 2009
    This article by in SI by Ross Tucker is based on Packer financial report ending 3/31/08, which showed the Packers made a profit over over $20M.

    This current Packer FY financal report indicates the Packers made $4M profit on total revenues of over $247M during the Last Packer FY ending 3/31/09.

    Packer President/CEO Mark Murphy has said Packer players salaries and benefits cosst are increasing faster the Packer revenues are increasing during last FY ending 3/31/09 and recession also has caused problems in decrease of profit from FY ending 3/31/08 to this years FY ending 3/21/09.

    But the Packers are satisfied with modest profit $4M during the last FY. Most U.S. Corporations are losing billlions of of dollars during this tough recession in the U.S.

    The Packers are publicallly owned Corporation and must make public their Financial report annually. The Packers send copy of their annuallly Financial report to the over 112,000 Packer shareholders before the Packer's stockholders meeting In Green Bay on July 30,2009.

    The Packers are required by federal and state law to publish theri financial report annually in newspaper of record in Green Bay- The
    Green Ba y Press-Gazette. The other 31 NFL franchises are not require to make public their financial report annually, because they are privately owned.

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