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[January 04, 2013]
Murphy discloses next Packers stock sale a ways off
Jan 05, 2013 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- Mark Murphy, the president and CEO of the Green Bay Packers, told fans in a first-ever phone chat Friday that there will be another stock sale, but not for 10 to 15 years.
The team's fifth stock sale ended early last year and generated $67 million in revenue that was applied toward the $143 million Lambeau Field project. That project calls for adding as many as 7,000 seats in the south end-zone area. The additional seats will be ready for next season.
Murphy also said the Packers will announce a plan soon to renovate the Lambeau Field Atrium. The Green Bay/Brown County Professional Football Stadium District has scheduled a special meeting for Tuesday to hear from Packers officials about atrium renovations.
In his chat with fans, Murphy said the renovations would include giving the Packers Hall of Fame, now located in the basement of the stadium, a higher profile, expanding the Pro Shop and providing different restaurant options.
Murphy did not disclose how much the renovations would cost, but it is expected to be in the tens of millions of dollars. It is not known how the project would be financed.
Murphy was participating in a phone chat arranged by PackersEverywhere.com, a franchise-owned fan-based website.
Asked by a fan about the possibility of the Packers hosting a Super Bowl some day, Murphy said it was a long shot.
He cited two reasons: the cold weather and the relatively few number of hotel rooms in the area. Murphy said that, within a 30-mile radius, there are 7,000 hotel rooms in the greater Green Bay area. The National Football League requires at least 25,000 rooms.
Also, the NFL requires two indoor practice facilities. The Packers have one.
Another fan asked about the contracts of tight end Jermichael Finley and receiver Greg Jennings. Murphy said Finley had a contract through next season. As for Jennings, Murphy said that was something general manager Ted Thompson and vice president Russ Ball will have to work through.
Jennings earned $9.2 million this year, and Finley earned $7 million.
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