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re: IYO: What Obligation Do NFL Owners Have to Full Financial Disclosure...
Posted on 3/11/11 at 12:18 pm to classictiger
Posted on 3/11/11 at 12:18 pm to classictiger
quote:
the Packers have a more detailed version of their public statements, but it is not available to the union. George Atallah, the union’s assistant executive director, said, “Nobody gives you one-thirty-second of the information you need to make a business decision.”
The Packers’ financial results, he said, add up to “a nonprofit making a profit.”
Does Lambeau have any/many skyboxes?
quote:
The Packers earn much less than they did four years ago. Their operating profit fell 71 percent from $34.2 million in the year that ended March 31, 2007 (which coincides with the start of the current collective-bargaining agreement), to $9.8 million in the year that ended last March 31. Revenue rose 18 percent in that period to $257.9 million.
The primary reason for the sharply reduced profit was player costs (salaries and benefits), which swelled in those years to $160.8 million from $110.7 million.
The Packers’ reports show that their share of network money rose to $95.8 million last year from $84.2 million in 2005. Their cut of licensing, merchandising and other national revenue leapt to $45.8 million from $14.5 million.
Michael Ozanian, executive editor of Forbes magazine said the Packers were typical of NFL teams in the level below the richest ones, like the Dallas Cowboys and Washington Redskins. Forbes ranked the Packers 14th in value (at $1 billion), 15th in revenue and 27th in operating profit in 2009.
1
Posted on 3/11/11 at 12:20 pm to classictiger
none objectively
if they want to negotiate a split of revenue, then they have an obligation to the spirit of negotiations to provide the data
if they don't want to negotiate in good faith, that is also their choice
if they want to negotiate a split of revenue, then they have an obligation to the spirit of negotiations to provide the data
if they don't want to negotiate in good faith, that is also their choice
Posted on 3/11/11 at 12:35 pm to SprintFun
quote:
Technically? No obligation.
But you can't say you're losing money and want to shift the balance by a billion dollars between the players and owners and provide no financial backup. That's just retarded.
agree
if they are willing to hold a hard line they may get away with it tho... after around 4 months with no salary most players will realize it's bad for them to spend 10% of their net worth every month (and will mostly fold)
Posted on 3/11/11 at 12:39 pm to Sophandros
quote:
And keep in mind that the Packers are a non-profit organization...
Meaning that the team is owned by the city, but they do generate "operating profits"
Posted on 3/11/11 at 2:01 pm to molsusports
If the players union is decertified and the players sue the owners then the courts may force the owners to open their books. The courts have sided with the players once already so it won't surprise me if it happened. The last thing the owners want is litigation IMO.
Posted on 3/11/11 at 2:04 pm to Kafka
quote:
Union officials frequently mention team revenue and profit; they want to examine every team’s books, but they cannot. The league insists that the union has audit rights to all league and team revenue, and player costs. But that is not enough for the union.
In fact, the Packers have a more detailed version of their public statements, but it is not available to the union. George Atallah, the union’s assistant executive director, said, “Nobody gives you one-thirty-second of the information you need to make a business decision.”
So according to comments by the NFLPA assistant executive director for this article the Packers info is not really enough info to make a business decision.
But if every team offered the same info as the Packers public posting would that meet what the NFLPA is asking for during mediation with NFL? I was not sure if this NFLPA rep gave an answer on if the Green Bay postings were enough to meet their demands even if they were a lot of details not published. I know article is before Super Bowl, but negotiations were going on back then as well.
Posted on 3/11/11 at 2:13 pm to SlowFlowPro
quote:
if they don't want to negotiate in good faith, that is also their choice
Pretty much sums the entire thing up.
Posted on 3/11/11 at 2:23 pm to Jaydeaux
Guy on Sirius NFL Network, Jim Miller I believe has been railing against those Packer #s. Said that the limited public #s don't show that the Pack took a $50 million hit in a land investment, and they choose to write it off that way so it looks like they are losing profit margin.
ETA quick google search yielded nothing on losses but did find a few articles saying how GB has invested around $30 million in land around lambeau. Seems something like that would lower your net profit
ETA quick google search yielded nothing on losses but did find a few articles saying how GB has invested around $30 million in land around lambeau. Seems something like that would lower your net profit
This post was edited on 3/11/11 at 2:29 pm
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