Mike, in your article about the Packers’ finances, you didn’t mention the impact of the draft. Does that money go to the NFL or is it accounted for separately? Also, as the new locker room pictures are displayed, is the information available regarding what upgrades were done across the complex and what they cost?
The Packers’ fiscal year ended March 31, so everything draft-related will be on next year’s balance sheet. I’ve been told the franchise broke even at best, and probably lost money, on hosting the draft due to all the expenses that went into it, but that was to be expected and the investment was made for the community economic impact, which was enormous. As for the new locker room, I haven’t heard how much it cost, but that’s not on the books next year, either. As a facility investment, accounting-wise it’ll be spread out as depreciation over time.
Longtime fan and II reader since the Vic days. Regarding the Packers’ financial report release, the one thing I always look to first is the level of the reserve fund. No billionaire owners in GB. This franchise was in serious trouble in the 1980s, and sentiments among owners like Denver’s Pat Bowlen were not unique. Green Bay has to be financially successful and winning to maintain long-term relevance and even continuation in the NFL. I hope Policy emphasizes this aspect as much as Murphy did.
The corporate reserve fund certainly gets that emphasis, even more so now that other owners can sell private equity in their teams up to a 10% stake. The Washington Commanders were just sold two years ago for $6B. That means their new owner could raise $600M in capital at the drop of a hat. The Packers have been able to raise $60M or so every once in a while with a stock sale, but the private equity route (which GB doesn’t have) changes the financial ballgame. The Packers’ corporate reserve fund is currently approaching $700M and it will get the attention it deserves.
It’s nice to see the Packers organization had another financially successful year. Even without a traditional owner, it’s important that the team has the resources necessary to continue to compete and provide a top-notch experience for fans. Nonetheless, I’m wondering if either of you uttered the following upon hearing the news: “Hey, Ed, hey, how about a little something, you know, for the effort, you know?”
Ha. I’m not on easy street with this job by any means, but I’m not complaining. There’s a tremendous benefit package – literally and otherwise – that comes with working here.
There’s no question that Mark Murphy will go down in history as a superb football team LEADER, but there was a time when he was a PLAYER. What were his lifetime stats (college and pro), and is he in anybody else’s hall of fame?
Murphy was inducted into Colgate’s Hall of Honor in 1985, shortly after his NFL career ended. With Washington, he had 27 career interceptions (plus one more in the postseason), leading the league with nine in 1983, when he was named first-team All-Pro and tied for eighth in the Defensive Player of the Year voting.
Jennifer from Middleton, WI
Twice a week “Unscripted” until February? Music to my ears! Excellent first episode that set up well all of the intrigue to watch throughout camp. And welcome to new sponsor Pit Boss Grills. The self-imposed challenge has begun on how fast I can memorize the ad read to say it with Spoff.
Rumor has it we might be pre-recording the ad reads so I don’t have to rattle them off live every single show. Stay tuned.
Spoff, are the planets and stars aligning for the Brewers this year? There’s a long ways to go, but this team appears to be the real deal. The pitching staff is deep, defense is top five, and they are getting timely hitting in big moments. Imagine if they didn’t start 0-4.
I’m not entertaining any thoughts of planets and stars aligning given how recent postseasons have gone. And yes, still a long way to go. The 0-4 start? Heck, they were three games under .500 just two months ago, on May 25. I don’t regret the rough beginning, though. I truly believe the adversity toughened them up.
Douglas from Naperville, IL
If the baloney stops at 3:25 pm CT on Sept. 7, then yes, very good, can I have a steak sandwich, and another steak sandwich?
I’ll even put it on the Underhills’ bill for you. Happy Friday.