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Packers seeking G-4 funds for further Lambeau renovations

03lambeau583 Getty Images

A year after the Packers raised money for stadium renovations by selling stock that isn’t really stock, they’re seeking a loan that really isn’t a loan.

A league source tells PFT that the relatively thin agenda for the ownership meetings that open today in Chicago include a request from the Packers for funds under the league’s G-4 program, which makes money available for the construction or renovation of stadiums.

The G-4 program applies to stadium projects costing at least $50 million, with up to $200 million in loans available from the league.

The specifics of the proposed renovations aren’t known.  The Packers have shown a willingness to make improvements to the in-stadium experience, despite the existence of a waiting list long enough to fill another Lambeau Field, or two.

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26 Responses to “Packers seeking G-4 funds for further Lambeau renovations”
  1. joetoronto says: Oct 15, 2012 8:31 AM

    What did they do with all that “stock” money they raised?

  2. packfntk says: Oct 15, 2012 8:50 AM

    Wow I am excited to hear what they could be doing now!

  3. beeronthefridge says: Oct 15, 2012 9:17 AM

    What would you do if your corner bar started selling booze that isn’t really booze? You would have a riot!

    Only a fool would buy stock that isn’t really stock!

  4. kingmj4891 says: Oct 15, 2012 9:25 AM

    joetoronto says:
    Oct 15, 2012 8:31 AM
    What did they do with all that “stock” money they raised?

    Ted Thompson is out of the country right now but maybe able to answer your question later from the comforts of his new home just outside of Zurich.

  5. mvp43 says: Oct 15, 2012 9:25 AM

    joetoronto says:
    Oct 15, 2012 8:31 AM
    What did they do with all that “stock” money they raised?
    ——————————————

    They added 2 new entrances to help with traffic flow. They added 6600 new seats above the south end zone. They replaced the 2 scoreboards with new HD screens and added a completey new sound system. A new roof top terrace will also be added above the north entrance that in addition to the added seats can also host wedding receptons.

  6. jimmysee says: Oct 15, 2012 9:30 AM

    All the stock money was spent or will be spent on capital improvements at the Lambeau facility. The league requires that as a condition to offering the shares.

  7. cbblitz21 says: Oct 15, 2012 9:34 AM

    I am a Packer fan, live exactly 3 miles from Lambeau.

    This is a team that has charged a PSL, sold sod in a box when they changed it out, and sell “fake” stock certificates for $250 a pop. They increased the cost of a beer from $6.75 to $8.00. Now they are asking for renovation money when they are annually listed in the top 3rd of all sports teams in prophet?
    I don’t pretend to be an economic genius or to understand the business that is the NFL but what is next? Pay an extra $5 if you wear a cheesehead. (If that would make people stop wearing cheeseheads I’m all for it).

  8. burningrangers says: Oct 15, 2012 9:43 AM

    Stock sale went to renovating the south end zone by putting up the 4th largest (currently) video board in the NFL and adding thousands of bleacher seats to the south end zone.

  9. wipackman1265 says: Oct 15, 2012 9:48 AM

    They compete off the field to provide the BEST stadium experience possible… If you don’t like it stay home and watch Oprah or Rachel Madow or Bill O’Reilly and whine and cry about everything in your life and the rest of us will all go have FUN…..

  10. dcviking says: Oct 15, 2012 9:51 AM

    mvp43 says: Oct 15, 2012 9:25 AM

    joetoronto says:
    Oct 15, 2012 8:31 AM
    What did they do with all that “stock” money they raised?
    ——————————————

    They added 2 new entrances to help with traffic flow. They added 6600 new seats above the south end zone. They replaced the 2 scoreboards with new HD screens and added a completey new sound system. A new roof top terrace will also be added above the north entrance that in addition to the added seats can also host wedding receptons.

    ———————————————

    I guess since it can hold wedding receptions, by definition, it’s good for family reunions as well…

  11. seals1 says: Oct 15, 2012 10:09 AM

    On one hand I’m impressed with the level of fandom the packers have created,,,,,,,,,,,,,,,,,,,on the other hand I wonder about the packer fans.

    For a team that has a great following of fans the franchise is not afraid to slap’em on the back with one hand and pick their pocket with the other.

    Don’t get your head stuck in the fence.

  12. jhein23 says: Oct 15, 2012 10:11 AM

    Packers don’t have to do this if they want to stay middle of the pack in revenue. But they want to compete with the big boy stadiums – Cowboys, Redskins, Patriots etc.

    Even if you hate the Packers but love pro football you should go to Lambeau field just once its a great experience especially in August thru October when the weather is still nice.

  13. stellarperformance says: Oct 15, 2012 10:54 AM

    Why are so many people (non-Packer fans) obssessed over the “stock” sale? We know it’s not stock. I have to shake my head at you idiots.

    Is it any different than purchasing a personalized NFL-themed license plate with the proceeds being used for specific projects? Let me answer that for you….NO. How about an official NFL team jersey…that cost an additional $100.00 to have it signed by the player?…..NO. What is your ROI on those “investments?”

    Get over yourselves. We have something unique that you don’t, and you’re jealous as hell of the deep multi-generational following we enjoy, and you can only spew venom from the other side of the fence. Tough cookies indeed.

    The “stock” is but one of many small details that enable fans to personally contribute to the Packers being the best damn franchise in the league.

    Sorry for you to have to eat that.

  14. joetoronto says: Oct 15, 2012 11:44 AM

    As a “shareholder”, I hope they show you receipts.

    Oh, don’t tell me you believe everything they say?

    SMH.

  15. panamon says: Oct 15, 2012 12:15 PM

    Tons of teams are in much, much worse stadiums who MAY LEAVE their current city due to such old stadiums.

    How nice of one of the most valuable franchises that already have PSLs and an advantage to raise free money NO other team can to waltz to the front of the NFL loan line.

  16. atthemurph says: Oct 15, 2012 12:36 PM

    Stock that isn’t stock?

    My share of the Green bay Packers isn’t like other companies shares of stock because it doesn’t end up being worth less than it does now. I suppose I should have just bought Netflix at $250 instead.

    I hope the G4 loan is for new aluminum bleacher seats. The old ones aren’t cold enough.

  17. numberoneinthehoodg says: Oct 15, 2012 1:51 PM

    Is this G-4 classified? What do Chris Tucker and Jackie Chan have to say about this?

  18. packersownerandshareholder says: Oct 15, 2012 3:51 PM

    The greatest franchise in professional sports. GO PACK GO

  19. bobnelsonjr says: Oct 15, 2012 4:07 PM

    A sound loan and business decision for the NFL.

    With the additional seating, Lambeau Field will become the 4th or 5th largest stadium in the NFL adding to the already impressive amount of revenue the Packers generate (as a high revenue team they contribute NFL welfare to low producing teams like the Raiders and vikings).

    Being good corporate citizens in the community they ask for no government welfare money for the expansion.

    With the expansion Lambeau Field will hold 80,000 spectators and a waiting list of over 85,000.

    Not bad for a city of 104,000 people. What other NFL city can put 80% of their population into their stadium?

  20. mvp43 says: Oct 15, 2012 5:50 PM

    Listen, we all know that its not “real ” stock. I have 1 certificate hanging on my all as well. What it is to me is just something cool to own. Its no different really than spening $250 at the Pro-shop.

    Also, its a way to raise money without additional tax burden on the residence of Brown County.

  21. thejuddstir says: Oct 15, 2012 5:51 PM

    This is too freakin’ funny. I hope the 31 NFL owners tell the Pack to “take a hike” or “go print some more funny money for your redneck fans”. No other team has a right to print funny money and as such the Pack shouldn’t have access to the G-4 funds. The G-4 funds are intended for owners who have “skin in the game”, (using their own money) and not for a welfare team. I think it’s time for the 31 owners to say it’s time for the Packers to join the “big boys” in all areas of football. Revenue sharing, owner investment, game rules, get tax dollars, etc. etc.

  22. thejuddstir says: Oct 15, 2012 6:47 PM

    bobnelsonjr says

    “Being good corporate citizens in the community they ask for no government welfare money for the expansion”
    ============================
    G-4 funds = corporate welfare from the NFL. As I have stated “for years”, it’s time the Packers are required to abide by the same rules (financially and on the field) that the other 31 teams have to abide by. No other major sport has separate rules for one team over the rest of their league, other than the NFL and the Packers. There are many benefits to the packers situation that other teams don’t get to take advantage of. Just one of each: with no private ownership, the packers have no “skin in the game”, the other owners have to invest their own money in stadiums and renovations …how about the ridiculous rule where only the packers can do the lambeau leap, any other team it is a 15 yd penalty for excessive celebration……totally ridiculous.

  23. tessluvsfootball says: Oct 15, 2012 7:59 PM

    As a publicly owned team the Packers are required to open their books so everyone can see where every dollar goes. As for the Lambeau Leap players from other teams are jumping in their stands after scoring without drawing a penalty so the Packers are no longer the only team allowed to celebrate in this fashion.

  24. thetokyosandblaster says: Oct 15, 2012 11:33 PM

    Go figure, a Vikings fan (who doesn’t have a stadium) is saying that the Packers should get screwed out of money to improve theirs.

    Juddstir, your team’s season is about to go the way of the metrodome.

    We’re all going to laugh at you and your team for the rest of the year.

    Night, junior!

  25. packmanfan says: Oct 16, 2012 3:49 PM

    A fool and his money are soon parted.
    And even though I’m a Packers fan, I always thought it was foolish to spend $250 for a piece of worthless paper.
    Pride doesn’t have to cost anything.

  26. longtymefan says: Oct 17, 2012 10:48 AM

    packmanfan says: Oct 16, 2012 3:49 PM

    A fool and his money are soon parted.
    And even though I’m a Packers fan, I always thought it was foolish to spend $250 for a piece of worthless paper.
    Pride doesn’t have to cost anything.

    ~~~~~~~~~~~~~~~~~~~~~~~

    Have you ever bought a piece of ANY Packer stuff? Cup, hat, dog collar, jersey?

    Gone to a game? When you could watch on TV?

    Paid for parking when you could walk.

    PAid $8 for beer when you DONT need to drink..

    Those all do the same thing…You give $ to the PAck

    For that matter, do you buy any type of alcohol EVER? Why? You do not need it at all…

    How about smoke? Spend money there?

    How about going out to eat? Burger King, McDonalds? Taco Bell, you NEVER need to do that..

    But yet someone spends 250$ to show how much they SUPPORT their favorite team is wrong?

    BTW——-I do NOT own any stock at all in the Packers..

    I find it funny those that whine and say people are stupid for spending it, tend to have vices that cost more than the $250

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