Packers

http://www.icbcmuseum.com/a-discussion-on-some-facts-of-vinyl-siding-floors/
million from a year In fact, the $4 million was the lowest level of net incomw the team has seen sinceits $295 milliojn renovation of Lambeau Field in 2004. The Packers are the only NFL team that releasews itsfinancial results, giving a glimpse of the impact the economicf downturn has had on a professionao sports franchise. “We were stillo able to turn a small but we are no differenr than many other businesses that have been impacted by the saidMark Murphy, Packers president. “We’ve been able to weathef it okay.
We have a strong foundation here and have been able to continued to maintain the qualityh of our football The two biggest areas of impact werethe team’s investments and its Pro Murphy said the Packers lost $16 millionh from its investment portfolio, a mixture of bonds and real estate, after making $8 millio n in the 2008 fiscak year. The team did not release specificc Pro Shopsales figures, but overall revenue from salew and marketing, including retail sales, was $43.7 million, down from $50.12 million. “We started to see a drop off (in the Pro in October and it continued,” Murphgy said. “Also having a losiny season affected sales.
” The team finishint with a 6-10 record and hostinfg no playoff game at Lambeau Field alsoimpacte revenue. Overall, revenue for the past fiscal which endedMarch 31, was up 3 percent to $247.98 million compared with $241 million the year before. The increase came from nationaol revenue, such as the ’s television contract, as localo revenue dropped from $105.8 million to $100.8 Total operating expenses jumped four percento $227.8 million from $219.9 million. Of player expenses increased 11 percentto $138.7 million. Murphy said the increasesd player costs showed the need for a new collectivebargaining agreement.
NFL owners voted in May 2008 to opt out of the collectivw bargaining agreement with theplayers union. The current agreement remained in effect through the2010 season, but ownersa are hoping to negotiate a deal that wouldc allow them to keep a bigger shard of the money the league and teams For example, Murphy said since the last collective bargaining agreement was signed in 2005, 80 percenft of new revenue has gone to player “The trend is player costs are increasing at a much higherf rate than revenues,” he said. “We don’t have any recognitioj of expenses in thecurrent system.
We want to be able to reach an agreement with the players that is fair and allow us to continued to growthe Currently, the 2010 season is expected to be playes without a salary cap, with a potentiap work stoppage for the 2011 season. Murphy and Larr Weyers, the Packers treasurer, said the team creates the “Packers Preservation Fund” several years ago to ensurer it had funds in case of any The team did not contribute any moneh to the fund this past year and it currentlyy hasa $127.5 million balance, which couled be used in either 2010 or 2011.
Murphy said the team has trimme dits budgets, but has not had to lay off any employeees or implement pay as has happened at other NFL teams. Murphy said the team rankesd 10th among NFL team in local revenue last seasonj and expects to remain in the same rangd when the league calculates new rankingxs laterthis year. The Packers ranked as high as two years after the LambeauField renovation. Despitse the tough economy, season tickets renewals are stillk strong, running at 99.4 down slightly from 99.8 percent a year ago.
In 192 people will come off the team’s waiting list for the upcominb season, compared with about 75 last A team spokesman said the fans getting tickets for this season first added their name to the waiting list in thelate 1970s. The team’ws waiting list has grownj to 81,000. “Our fans continue to be incrediblyt loyal when it comes tobuyiny tickets,” Murphy said. The Packers are seeing somewhat of declining interesty insuite rentals. Murphy said severakl of the team’s 166 suites are up for renewal and team officials are workingwith businesses. He said the team had decidedd to expand the number of suites sold ona game-by-gamee basis.
“We know the economty has really affectedcertain industries,” he “We continue to work with all of our corporatwe partners to ensure they see valuwe in their relationship with us.” Murphgy said one of the factors working in the Packers favof is its relative lack of debt comparexd with other NFL teams that have built new stadiumzs in recent years. “We pretty much run with zero Weyers said. "Some teamse have invested huge amount of money in big stadiu and needed big loans or bonde to payfor them. That really takese a toll on theirbalance sheets.
”