"Things are a-changin" at 1265 Lombardi Avenue, and the Green Bay Packers acknowledged that during their annual shareholders meeting on Monday afternoon.
Multiple reports said approximately 7,800 stockholders and their guests attended the annual meeting which highlights the football, business, and charitable operations of the franchise as the only publicly-owned team in professional sports. President and CEO Mark Murphy expressed cautious optimism about new quarterback Jordan Love, saying he is excited about the future but admitting that it may take half the season for Love to find his groove as the team's starter. He preceded those comments by thanking Aaron Rodgers for his 18 years with the franchise and that he looks forward to seeing him on HBO's Hard Knocks next month.
The Packers went into details about its finances, reporting $610.3 million in revenue for the 2022-23 fiscal year, which concluded at the end of March. The team's profit from operations was $68.6 million and their net income was $35.6 million. That was about $9 million and $26 million respectively off from last year. Increased player costs, market volatility, and the London game all contributed to a lower net income for the fiscal year, which concludes in March. The organization went into detail about some of the improvements they have made in recent months, including the larger scoreboards, more grab-and-go concession stands, and new football administration offices.
The Packers also announced Pro Football and Packers Hall of Famer LeRoy Butler; Laurie Radke, president and CEO of the Greater Green Bay Chamber; Sachin Shivaram, CEO of Wisconsin Aluminum Foundry, and Christopher Stiles, chairman, president and CEO of Morely-Murphy Co. as new members of the team's Board of Directors as voted on by the team's stockholders.