Breaking: Packers City of Green Bay Finalize Revised Stadium Lease
The Green Bay Packers just made a big commitment to the city, agreeing to a new lease on Lambeau Field. This week, the Packers and the city of Green Bay agreed to a 30-year lease on the stadium with an annual rent of $1 million and a 2.75 percent annual escalator. The Packers will invest $1.5 billion in Lambeau Field, and taxpayers would not be obligated to pay for the investment.
“This process has become untenable, as the Packers have already invested four years in discussions and submitted three proposals without receiving a single counter-proposal. If this extension as proposed is unacceptable, the Packers will not engage in further discussions,” the team said, per the Green Bay Press Gazette.
The city rejected three previous proposals by the Packers. Before the Packers and Green Bay agreed on the new lease, the Green Bay City Council explained their position on the team’s previous offers.
“That’s football and this is business,” City Council president Brian Johnson said. “We need to learn how to separate football from business. We understand why an extended lease is desired by the Packers. They want to make substantial investments in the stadium and they want to ensure that they have long-term control and that a future council doesn’t raise the rent after they made those investments. We think that is a very smart business decision on their part.”
Green Bay Packers and the city prepare for the 2025 NFL Draft
The agreement comes as the Packers and Green Bay prepare for the 2025 NFL Draft. The city will host the event on April 24-26 next year, and the main portion of the event is expected to take place on the Lambeau Field and Titletown campus.
“The Draft has become our biggest offseason event hosted in different cities with spectacular locations across the country, and we are excited to work with the Packers and Discover Green Bay to bring the 2025 NFL Draft to Green Bay and iconic Lambeau field,” NFL Commissioner Roger Goodell said last year. “With the help of numerous local partners on the ground, our prospects and fans will be treated to an incredible week-long experience that shows off the city of Green Bay and the state of Wisconsin.”
