Monday, August 10, 2015

Making money the old-fashioned way.............

As the NFL’s only publicly owned team (in spirit, anyway, because public shares have no value and cannot be traded), the Green Bay Packers have to release their financial records every year, probably to the chagrin of every other NFL owner who would sooner donate every cent to charity than open up their books.
The full story on the Packers' financial situation is here.  Almost -but not quite - enough  to make you root for them.  Among the re-investments they have made, this may be my favorite:
2. They’re buying up land around Lambeau Field
Mostly over the last four years, the Packers have bought 64 acres east, west and south of Lambeau, paying $53.7 million. The team intends to oversee commercial development — a Cabela’s outdoors store is the first tenant — to generate non-football income.  “We are continuing to look at ways we can grow revenue. We don’t want to do it on the backs of our season-ticket holders,” team president and chief executive Mark Murphy said, per Ryman. “One way is to attract more visitors.”

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