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PACKERS TAP INTO RESERVE FUND AFTER PLAYER COSTS JUMP 16%

          The Packers' "cash concerns mounted" during the last
     FY, as the team's expenses surpassed revenues and it "was
     forced to dip into its reserves," according to Thomas
     Content of the GREEN BAY PRESS-GAZETTE.  Although the
     Packers will again show a profit in their annual report,
     Packers Treasurer John Underwood said that the team's
     financial and cash situation "declined considerably in the
     past year."  The team reported $419,000 in operating losses
     for the FY ended March 31 -- its "first operating loss in a
     decade" -- compared to an operating profit of $6.99M the
     previous year.  The Packers' cash reserves fell $2.6M to
     $49.85M during the FY, down 5% from a year ago.  Team execs
     said that the "cash crunch underscores the Packers' need to
     tap lucrative sources of revenue from a renovated Lambeau
     Field."  The figures also showed that the Packers' revenues
     increased by 5.9%, but expenses were up 14.1%, largely due
     to player costs, which jumped by more than 16.1%.  The
     Packers now rank 16th among NFL teams in revenue, down from
     ninth two years ago (GREEN BAY PRESS-GAZETTE, 5/28).        

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