Despite rain, the annual Packers Shareholders meeting went on at Lambeau Field as planned. Packers President and CEO Ed Policy shared the team’s latest financial status, stating the Packers are in a strong financial position for the short and medium term but have some long-term concerns.

Financial Status

Policy said the Packers saw a 4.7% increase in total revenue from last year and a more than 50% profit. However, the team also saw a loss of $1.1 million in its day-to-day operations. According to Policy, it’s becoming harder for the Packers to compete with other teams owned by billionaires that can now sell a portion of their private equity.

A sports economics expert, St. Norbert College Professor of Economics Kevin Quinn, said the Packers are in good shape and doesn’t think other teams tapping into private equity is a major threat. Quinn stated that the Packers will be fine as long as the organization stays on the receiving end of media rights revenue.

Revenue Generation

Policy said the team will be more aggressive in generating revenue going forward, including hosting more non-Packers events and sponsorships. Shareholders we talked with are not worried and feel like the team is in a good place. They believe the organization is strong from top to bottom and has the right people in the right spots.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.