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SBD/July 17, 2013/FranchisesPrint All
The Packers had "another profitable season last year, setting franchise records for net income, revenue and profit from operations," according to data cited by Don Walker of the MILWAUKEE JOURNAL SENTINEL. The financial future "is also bright, with the team poised to open a new 7,000-seat addition in the south end-zone area this season" at a cost of $146M that is "expected to generate new revenue equivalent to an extra home game at Lambeau Field." Packers officials yesterday said that for the fiscal year ending March 31, net income increased 1% to $43.1M, and profit from operations jumped 26.4% to $54.3M. Total revenue went up 2% to $308.1M. All "are franchise records." Packers VP/Finance & Administration Paul Baniel said that the team's corporate reserve fund, which "includes the old Packers Preservation Fund, had gone up from" $246M to $254M. Total team expenses were $253.8M, down $5.2M from the previous year. National revenue was up 4.9% to $179.9M. That "includes national television revenue, which was not broken out in the Packers' report." Packers President & CEO Mark Murphy said that NFL teams "benefited from a new deal with Nike and carriage fees paid by cable television systems" for NFL Network. Local revenue -- the amount of money "generated from team operations -- was down 1.7%," from $130.4M to $128.2M. The report also showed that "work is under way" on the $140.5M Atrium renovation at Lambeau Field, which will see the Pro Shop "double in size" (MILWAUKEE JOURNAL SENTINEL, 7/17). In Green Bay, Richard Ryman reports the Packers "severely curtailed the information released, compared to what they made available since at least their request for public financing of the 2003 Lambeau Field renovation." The bottom line "could have been larger," as the Packers "increased their donation to the Packers Foundation" from $3M to $5M and, like all NFL teams, contributed $2M to a player health and safety research fund. Packers Treasurer Mark McMullen said that the goal is to get $20M "into the Packers Foundation," which currently has $14M (GREEN BAY PRESS-GAZETTE, 7/17).PACKERS' FINANCIALS'13'12'11'10
Profit from operations$54.3M$43.0MNANA Revenue$308.1M$302.0M$282.6M$258.0M Player costs$136.0M$155.4M$158.9M$161.0M Net income$43.1M$42.7M$17.1M$5.2M
MLB Commissioner Bud Selig again expressed grave disappointment yesterday with the Rays' attendance problems. Meeting with the Baseball Writers Association of America, Selig called the Rays' issues "very disappointing, very worrisome." Selig: "It's beyond disappointing. It's economically not tolerable." The Rays, seeking their sixth straight winning season, rank next-to-last in attendance in the league with an average of 17,791 per game. Selig: "Getting 18,000 a game might have been OK in 1956. It's not OK today." Selig has been in regular dialogue with Rays Owner Stuart Sternberg, but with the club locked into a long-term lease for outdated Tropicana Field, an answer is not immediately apparent (Eric Fisher, Staff Writer). Selig said, "There's no question there's a stadium problem. There's no debate about it. The question is what to do about it and when to do it and where, and those are conversations Mr. Sternberg and I will have.” In Tampa, Marc Topkin noted Selig “made it sound as if those talks with Sternberg will become more urgent.” Selig: "I have a very high level of frustration. I think my patience is running as thin as his, if not more so. I don't know what will happen with that; he and I need to have a lot more conversations." Selig added that he "would discuss with Sternberg the possibility of a visit to talk with Tampa Bay area officials." Sternberg has "had talks with St. Petersburg Mayor Bill Foster and said he hopes the issue heats up after the season" (TAMPABAY.com, 7/16).
The Cowboys have asked a federal court to order ticketholders suing the NFL over the Super Bowl XLV seating fiasco to pay the club $196,584.44 in attorney fees. Those are the costs the Cowboys said the club incurred responding to “broad” subpoenas issued to club employees by the ticket holders’ lawyers. The team is no longer a party to the lawsuit after the court dismissed that part of the case. The court ordered the Cowboys to comply with the subpoenas, but the team is nevertheless seeking the cost reimbursement. As an example of the cost, the team in its motion yesterday before the Dallas federal court said it had to go through 12,000 e-mails of Senior Dir of Corporate Communications & Strategic Event Planning Brett Daniels, who the ticket holders subpoenaed. Cowboys Exec VP/Brand Management Charlotte Jones Anderson also was subpoenaed. The court last year dismissed the case against the Cowboys, but approved the subpoenas earlier this year. The court recently denied class-action status to the case, and the NFL recently asked the court to dismiss most of the remaining charges brought by the eight named ticket holders. There is a separate case pending in the Dallas federal case also brought by ticket holders from the '11 game who were affected by seats not being available.