Posted Oct. 23, 2012 @ 4:26 p.m. ET
GREEN BAY, Wis. (AP) ? The Packers will benefit from an NFL stadium construction program included in the league's new Collective Bargaining Agreement.
League owners have approved the Packers' request for $58 million to help renovate Lambeau Field, NFL spokesman Greg Aiello confirmed in an email Tuesday.
Packers President and CEO Mark Murphy said it is getting harder to secure public money, so the league and the players had to be creative to ensure stadiums don't become outdated.
"Stadium financing was a priority in the bargaining process," he said. "Our bargaining committee wanted to make sure teams and players continued to invest in stadiums and make fan experience positive. Everybody benefits when we build new stadiums and renovate stadiums."
San Francisco was the first team receiving so-called G-4 money for construction of a new 49ers stadium in Santa Clara, Calif. NFL owners in February approved a $200 million loan to the 49ers. The G-4 policy replaces a plan that allowed a maximum of $150,000 per team in loans.
The Packers are in the process of adding about 7,000 seats in the south endzone at Lambeau Field and have already installed a new sound system, video boards and an entrance. The team's recent stock sale raised $67 million for the $143 million renovation. The NFL's loan will help fund the balance.
The 2003 renovation at Lambeau Field was also funded in part by a league stadium construction program.
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?2012 by STATS LLC and Associated Press.
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Source: http://stats.profootballweekly.com/2012/10/23/nfl-approves-packers-funding-request
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