Green Bay Packers president Ed Policy reiterated on Monday that the organization has no plans to sell the naming rights to its hallowed home.
"We are not selling the naming rights to Lambeau Field," Policy said during Monday's Packers shareholder meeting at the stadium, .
In today's pro sports landscape, it's rare that any facility doesn't have a corporate named attached to it. Only two current NFL stadiums don't feature purchased naming rights: Lambeau Field and Soldier Field, home to the Packers and rival Chicago Bears, respectively.
On Friday, when the team released its annual expenses and revenues, the Packers reported an operating loss for the first time in a non-pandemic year since the 1990 fiscal year, bringing in $753 million in revenues against $754.1 million in expenses.
Policy on Friday pointed toward a $130 million increase in player costs when noting their high expenses, a total that can be partially explained by the acquisition of All-Pro edge rusher Micah Parsons, who received a four-year, $188 million contract upon arriving.
As the NFL's salary cap continues to rise annually, the Packers are aware they'll need more revenue to keep up with the rest of the league. Naming rights are an easily sold commodity, often at a significant price. Such exorbitant offers have convinced even the staunchest stewards to sell the names of other similarly venerated facilities: Earlier this year, the owners of baseball's Los Angeles Dodgers sold the rights to Dodger Stadium to Japanese clothing brand Uniqlo, renaming the legendary ballpark Uniqlo Field at Dodger Stadium for a sum the Los Angeles Times was worth more than $125 million over five years.
There are other avenues to generate revenue, of course. Clubs can sell minority stakes in their franchise in order to drum up cash. Because the Packers are the only fan-owned franchise in the NFL, such opportunities aren't available to them.
"For example, a team can sell 5 to 10% of their equity without giving up any controlling interest in the team, and they could raise more money than we have in our capital reserve fund in just a matter of months," Policy said Friday.
This means Green Bay look for alternative routes. The naming rights to the team's practice facility -- another commonly purchased commodity elsewhere -- could be sold. The football field at Titletown also has been renamed Emplify Health Field under a new sponsorship deal.
"We're going to have to be more aggressive with revenue generation going forward," Policy said Friday. "We all know the cost of competing in the NFL is going up, and other teams have access to capital sources that we just don't have."
While the Packers' business executives navigate this changing landscape, they needn't worry about the football side of the operation. Policy was staunch in his support for general manager Brian Gutekunst, executive vice president Russ Ball and head coach Matt LaFleur as the club prepares to embark on a new season.
"I couldn't be more excited about the three men we have leading our football team," Policy said on Monday. "That's why we extended their contracts this offseason."
With the football operation pushing forward, it will be up to Policy and the rest of the business team to find answers to their evolving challenges. Their home, meanwhile, will retain the same name it has held since 1965.
