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posted 11/14/2007
The Green Bay Packers have finalized a few pieces of real estate business in preparation for long-range plans that may be needed to meet any future challenges as the NFL continues to evolve.
First, the team acquired land on Ridge Road north of Kroll's Restaurant that previously had been leased to the organization to provide parking space. Then the team entered into a partnership with Jim Strohschein of Management Enterprises, Inc., to own Sidelines Sports Bar and the K-Mart property west of Lambeau Field.
According to Jason Wied, Packers vice president of administration/corporate counsel, the parking space will still be used as such, while the businesses on the additional land will continue their current operations. Plans for the near future don't involve any changes in how that land is being used.
"We don't know what the future holds," said Jason Wied, "but we felt it was prudent to be in position, land-wise, to be flexible and ready for whatever is the next trend to come along in the NFL. We want to be part of any development near Lambeau Field. It's simply a smart business move. We don't have a need for it today, but it's there for the future."
Lambeau Field Has Evolved
Looking at the history of Lambeau Field, and how the site has evolved along with professional football, it's clear to see the need to be prepared. Capacities increase. The business of football has changed and will continue to change.
When it opened in 1957, Lambeau Field's capacity was 32,500, with parking to accommodate nearly 5,000 cars. Over the years, as capacity increased, the parking capacity decreased. Lambeau now welcomes nearly 73,000 fans on gameday, with the Packers able to offer only 3,700 parking spots.
Lambeau Field today is vastly different from its simple beginnings in 1957, and necessarily so. Today, as a year-round destination, Lambeau provides financial strength to an organization and preserves its ability to compete with other teams in the NFL.
"I doubt the organization in 1957 could have foreseen what we have now," said Wied. "Even in the 1990s, when the Packers were adding private boxes, the new Lambeau Field wasn't on anyone's mind.
"But that's the way the NFL is. It's always evolving and progressing. In 1999, the organization determined a new Lambeau, with all that it would offer, was needed. And this stadium is doing exactly what we said it would: it has preserved this franchise for another generation.
"With that in mind, as the Packers and the business of the NFL continues to evolve, it's incumbent on the organization to prepare itself for the next business strategies of our competitors."
How Lambeau Compares
Comparatively speaking, Lambeau Field sits on about 35 acres of land. Several of the newer NFL stadiums, or those currently in development, are located on pieces of property more than 100 acres in size, with a couple significantly larger than that.
For example, the Dallas Cowboys' new stadium development (set to open in 2009) rests on 135 acres in the Dallas Metroplex. Much of that will be utilized for parking, but also gives the Cowboys flexibility for future development. The New England Patriots' stadium complex has a footprint of more than 200 acres.
The Packers' recent land purchases bring the footprint of Lambeau Field into the 50-acre range. Though it remains much smaller than some other teams, it does give the team flexibility for the future.
While no vastly new developments have appeared at the other NFL sites, the Packers want to be prepared. As some of the landscape around the historical stadium may change, the Packers are confident that by owning some adjacent property and being involved in any future developments, the team can accomplish the dual task of responding to the league's evolution while maintaining the overall unique setting of Lambeau Field.
The real estate acquisitions began with the need to replace approximately 1,100
parking spots that were removed from use with the stadium's redevelopment in 2003 and the installation of a new security barrier this year. The team initially contracted with Management Enterprises, Inc., run by Strohschein, to lease the area on Ridge Road immediately north of Kroll's Restaurant, stretching to Brookwood Drive.
With the arrangement working well for its parking clients, the Packers recently approached Strohschein about purchasing the land outright for long-term parking use.
"It certainly made sense to be able to use that land for parking into the future," Wied said. "Jim was great to work with, so we are close to finalizing the purchase."
After completing the transaction and pondering the future, the Packers asked Strohschein about forming a partnership to continue work on the real estate front. The agreements for Sidelines Sports Bar and K-Mart are to be finalized in the near future.
The Future
The goals of Green Bay Packers have long been simple and clear: Field a winning team, support the efforts of football operations to that end, and give the fans a great experience at Lambeau Field, whether it is on gameday or any day.
Given those goals, the responsibility of the organization is to run a sound business that is financially successful.
"Our challenge is to keep up with the best practices of our competitors, on and off the field," continued Wied. "This move on our part gives us one possible avenue in the future."