On this day in 1998: Packers hold first ever shareholders meeting
-- On this day in the history of the Green Bay Packers, the team hosted its first-ever shareholders meeting in front of a record crowd at Lambeau Field.
Packed inside the stadium bowl was a record attendance of 18,707 fans and their guests, eagerly awaiting updates on their financial standings with the team, as well as hear from team president Bob Harlan and general manager Ron Wolf.
Throughout the last 20 years, the Packers have coincided their annual shareholders meeting with the start of the training camp schedule.
The Packers' 2018 Annual Meeting of Shareholders will take place on Wednesday, July 25 at 7 p.m. It is the first time the team has hosted such a meeting in the evening as opposed to during the afternoon.
On top of holding the meeting on the same day players report to training camp -- and a day before the first practice of the summer -- the Packers are also planning on leading the shareholders meeting into the Packers Experience: a four-day fan festival commemorating the team's 100th season.
Those festivities also commence the following day, July 26.
The Packers, who have team shares distributed to over 363,000 people, are the only team to publicly report its finances.
At the first shareholders meeting in 1998, the team's reported income for fiscal 1997 was $6.7 million. As of the end of the 2016 fiscal year which concluded in March, the reported revenue estimated to $441.4 million, according to Richard Ryman of the Green Bay Press-Gazette.
This year's shareholders meeting will be the first with Brian Gutekunst as the team's new general manager, and he, along with President and CEO Mark Murphy, will speak to those in attendance.
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Zachary Jacobson is a staff writer/reporter for Cheesehead TV. He's the voice of The Leap on iTunes and can be heard on The Scoop KLGR 1490 AM every Saturday morning. He's also a contributor on the Pack-A-Day Podcast. He can be found on Twitter via @ZachAJacobson or contacted through email at [email protected].
Comments (6)
Thegreatreynoldo
July 08, 2018 at 10:29 pm
Net Income was $6.7M for 1997.
Net income was $45M/$72M* in 2017.
Net income was $48M in 2016.
Total revenue was $408M in 2016.
Total revenue was $441M in 2017.
Profit exceeded $3M for the first time in 1987.
* $72M because the $27M in relocation fees had to be claimed. Without that blimp, net income would have been $45M. The Packers won't even receive the $27M until 2020.
Total operating income for 1995 was $70M per Lynn Reynolds, Loyola Marymount Law Journal and $78M for 1996 (fiscal year ending March 1997) and $103M by March 1999, 2 years later.
The NFL has shared revenue since 1963, but what gets shared and what is retained by local teams has changed over the years. I believe teams do not share concessions, naming rights, PSL, and the sale of luxury boxes. Still, reports indicate that GB is doing is in the top third of franchises by income, and is doing well.
Things have really changed over time!
https://www.sportsbusinessdaily.com/Journal/Issues/2000/06/19/Special-Re...
Somedumbname
July 08, 2018 at 11:53 pm
I like that the GM and CEO are both going to speak at the meeting.
Somedumbname
July 08, 2018 at 11:53 pm
I like that the GM and CEO are both going to speak at the meeting.
Somedumbname
July 08, 2018 at 11:54 pm
double pump chump :)
KamThomps
July 09, 2018 at 08:40 am
That first meeting was a blast ! We toured the Hall of Fame, visited the Pro Shop, became experienced at the Don Hutson Center and simply drank in that terrific sunny day at Lambeau !
cheesycowboy
July 09, 2018 at 06:48 pm
Is it just coincidence stock sales coinside with desperation or profit?
The TT district. What a major boon for the local community as a travel destination. "If you build it, they will come". The Packers are the Crown Jewel of the NFL.