3-1 Milestone one Executive Summary

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1 3-1 Final Project Milestone one: Executive Summary Are the Green Bay Packers creating a new Stadium? Kashawn Hernandez Professor Mark Wieland

2 Proposed Project The National Football League (NFL) has had its share of teams who decide to start fresh by conducting a change in scenery. For example, the Los Angeles Ram owner Stan Kroenke had a stadium built and it opened in 2020. Kroenke’s stadium was $5 billion in total, and it featured apartments, offices, retail stores, public parks, as well a theater (David A. Lieb, Plans abounding for new sports stadiums across the US, carrying hefty public costs). In this case, the Green Bay Packers want to create a new stadium downtown. They have their latest stadium in Green Bay, Wisconsin (Lambeau Field). There are some constituents, who would rather prefer a renovation of Lambeau Field instead of building a new stadium downtown. The intended outcome of the creation of this new stadium would be to bring in more revenue for the Green Bay Packers and improve the community. Revenue Generators Revenue generators are essential for every business and organization. Revenue generators are the main ways to develop revenue. For the Green Bay Packers, their revenue generators included National revenue, Local revenue, NFL television contracts with the Collective Bargaining Agreement (CBA), Ticket sales, and Ancillary activities (Parking, Concessions, and hosting other events). According to an article by Emily Matesic on Fox 11 News, she writes a quote from Mark Murphy (President and CEO of the Green Bay Packers) says, “I think the TV deals are obviously very positive for the league, the ratings have been extremely strong, and I think the league has been smart with the movement to streaming and Amazon and that was very positive, the Thursday night package,” (Packers report healthy finances with $35.6M income for 2023, despite increase expenses). In other words, much of the revenue the Green Bay Packers generated was from broadcasting television rights displaying their games on ESPN, CBS, NBC,

3 Fox, Amazon, etc. Additionally, the balance sheet connects with this statement as their assets include the cash and investments from their revenue. The National and Local revenue is on their income statement with both adding to a total of $610,274(2023) and $579,011(2022). Both Local and National revenue are part of the total revenue that the Green Bay Packers are generating yearly. According to “Sport Finance” the authors write, “Ticket sales are another important revenue source for professional sports teams at all levels of minor and major league sports” (Gil Fred, Timothy D. DeSchriver, & Michael Mondello, 70). This is automatically included in revenue as all sports teams are charging for tickets to watch their games live in their stadium. Also, in “Sports Finance” it says, “Another major source of revenue for most pro sports is from ancillary activities like parking, concessions, and hosting of other events” (Fred, DeSchriver, & Mondello, 73). In other words, anything held at the venue is generated in the Green Bay Packers revenue because it will involve the parking fees and the concessions being paid for by customers. Expenses and Financial Health When it comes to the expenses for the Green Bay Packers they are not worried about the payment of their expenses since they know they must spend money to make money. Matesic writes in the Fox 11 news article, “Revenue wasn’t the only increase, the Packers also saw expenses rise. Overall, the Packers spent $541.6 million” (Packers report healthy finances with $35.6M income for 2023, despite increase expenses). These expenses included Player Costs ($294,192M), Team costs ($61,522M), Sales, Marketing, Fan Engagement ($73,849M), Facilities ($28,328M), and General & Administrative ($83,734M). All these expenses added up to the total expenses which were mentioned in the article of $541.6 million. As for the financial health of the Green Bay Packers they are perfectly fine and are on track with what they make every year. Matestic writes, “The organization says that’s about average for what it sees on a

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4 yearly basis… Despite the loss, the organization is still making money” (Packers report healthy finances with $35.6M income for 2023, despite increase expenses). Meanwhile, at the same time they are looking forward to the future as they are focused on their new star Quarterback Jordan Love, and bringing in new players to surround him as well as win another championship for the team.

5 References  VISION STATEMENT . (n.d.). https://shareholder.broadridge.com/pdf/gbp/gbp- annual-report_2023.pdf  News, E. M., FOX 11. (2023, July 19). Packers report healthy finances with $35.6M income for 2023, despite increased expenses . WLUK. https://fox11online.com/news/business/green-bay-organization-report- healthy-financial-shape-35-point-6-million-dollars-net-income-fiscal-2023- increased-expenses-mark-murphy-lambeau-field-jordan-love#  Fried, G., Deschriver, T. D., & Mondello, M. (2020). Sport finance . Human Kinetics.

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