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Green Bay Packers Financial Report Snapshot of Upcoming Labor Strife

by

GREEN BAY, Wis. (WTAQ) - The Green Bay Packers' latest financial report shows the delicate balance which may serve as an example of the NFL's current economic predicament.

Overall revenue grew nearly $10 million in the past year from about $248 million to $258 million. But right alongside are player costs, which saw a jump of about $22 million to over $161 million.

"Our total revenue was at an all-time high," Packers President and CEO Mark Murphy says. "But a trend that causes concern for us is continuing growth of player salaries. Player salaries have grown roughly twice the rate of our revenue."

Since the extension of the current Collective Bargaining Agreement in 2006, revenues of the green and gold have grown 5.5 percent annually, while costs of the players on the field have seen a spike of 11.8 percent.

Murphy understands since the Packers are the only publicly-owned team in the NFL, these numbers may be subject to more scrutiny.

"We do want to be fair and balanced, but I do think it shows some of the issues with the current system." Murphy said.

Murphy admits they have some advantages including minimal debt service and a high season ticket renewal base. This season, 99.6 percent of season ticket holders re-upped.

While Murphy feels they're well-prepared for an uncapped 2010 season, he still harps on the message of a CBA system overhaul.

"One of the things we proposed is a cost-recognition to have that built in there," said Murphy. "Over the past 10 or 15 years, the economics of the league have changed...many more new stadiums, owners and teams have to spend more money to generate revenue. We'd like to those costs recognized in the system."

 

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