The Green Bay Packers Stadium Project

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2-1 Journal: Financial Statement

The Green Bay Packers Stadium Project

Southern New Hampshire University

SPT 620: Finance and Economics of Sport

May 23, 2021

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2-1 Journal: Financial Statement

Balance Sheet

The historic Lambeau Field, home to the Green Bay Packers football team of the

National Football League, is the 2nd oldest football stadium in use today behind Soldier Field in

Chicago which was built in 1924 (but in 2002 went through extensive renovations to make it

look almost like a brand new). (Oldest.org. 2019). The historic Lambeau Field was built in 1957

and has been in use every year since. It is the NFL’s most iconic and feared stadium as it is

known to have the coldest temperatures in football as the season goes on. Many opposing

players fear playing in this stadium and it has been notoriously given the nickname “The Frozen

Tundra” after the ice bowl game of 1967, where temperatures during the game reached -15

degrees Fahrenheit. (Oldest.org. 2019). Although the stadium is one of the largest in the NFL

with seating of over 81,000, the current arrangement of aluminum benches and outdated

amenities make it tough to continue to produce the best fanbase in the NFL. (American Football

Wiki. n.d.). In 2003, Lambeau Field went through a facelift, but it did not address many of the

problems that the stadium faced and have still not been addressed since. The amenities of the

stadium are still very dated compared to many of the newer modern stadiums of the NFL. The

proposal is to build a new modern football stadium in Downtown Green Bay, Wisconsin that can

meet the needs of the ever-growing NFL fanbase as well as have many of the modern state of the

art amenities that the new stadiums feature, such as a retractable roof, luxury seating, modern

parking, and many of the other modern features.

A. Communicate

In analyzing the balance sheet of the Green Bay Packers organization, there is a lot of

important information to communicate to stakeholders. The biggest information to let the

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shareholders know is the anticipated costs of building a new stadium, as well as the location of

the new stadium, and the timetable of stadium build. In 2020, the Green Bay Packers had a total

revenue of $507 million, which was the first time the team had over half a billion in revenue.

(Spofford. 2020). In 2020, the Packers total expenses came to $437 million, with most of the

expenses being from players salaries and coaches pay. (Spofford. 2020). Although this was a

decrease from 2019, many of these costs would be able to be offset in the future with the increase

in revenue from a new stadium. A new state of the art stadium would be an incredible

investment to the organization.

B. Information

In describing information that would be necessary to include for stakeholders would be to

highlight the balance sheet during the 2019-2020 football season and the increase in revenue that

can be used to invest in a new state of the art stadium. With the Green Bay Packers being the

only publicly owned football team in the NFL, there are many tax breaks that the organization

can take advantage of. Being publicly owned, can also help increase shares to help find more

funding for a new stadium. Although the property line on the balance sheet, as well as the

equipment line, would take a major hit because of the costs of running Lambeau Field and the

costs of the new stadium at the same time, it would be extremely beneficial in the long run for

the health of the organization. The funds would have the opportunity to be recouped rather

quickly because of the increase in size of the stadium seating, state of the art amenities for fans

to enjoy and spend money on, increased ticket sales, expanded parking, as well as putting a

quality team on the field and opposing fans wanting a state-of-the-art experience. All these

features would make a new stadium a better financial risk for the organization than to remodel

the old outdated Lambeau Field.

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References

American Football Wiki. (n.d.). Lambeau Field. American Football Wiki.

https://americanfootball.fandom.com/wiki/Lambeau_Field.

Oldest.org. (2019, February 3). 10 Oldest NFL Stadiums. Oldest.org.

https://www.oldest.org/sports/nfl-stadiums/.

Spofford, M. (2020, July 21). Packers report financial 'bounce-back'.

https://www.packers.com/news/packers-report-financial-bounce-back#:~:text=This

%20year's%20total%20expenses%20came,contracts%20have%20built%2Din

%20escalators.

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