GREEN BAY – Mark Murphy doesn’t exactly know what the economic impact will be from the new Titletown district.
The Green Bay Packers president and CEO has seen plenty of projections and studies, but as all three cornerstones of Phase I of the mixed-use area across from Lambeau Field will all be on line by month’s end – the Hinterland brewery and restaurant, the Lodge Kohler hotel and the Bellin Health sports medicine clinic – even Murphy himself is left to guess on just how successful it’ll be.
“It’ll be interesting over the next few years to see the impact of Titletown (on local revenue),” Murphy admitted late last week during a meeting with reporters to discuss the team’s annual financial report, set to be presented to the team’s shareholders at Lambeau Field on July 24. “Obviously we’re very excited about it; (it’s) something we’ve been working on for a long time,” Murphy said. “We really see it as building on the success of the renovation of Lambeau.”
According to figures released by the team, the Packers took in $197.4 million in local revenue last fiscal year, an increase of $11.3 million from the previous year. Because all 32 teams have the same amount of national revenue because of the NFL’s revenue-sharing program, local revenue is where teams can move up or down the pecking order. The Packers currently rank in the second quartile of the league, according to vice president of finance and administration Paul Baniel.
But that ranking could rise…
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