Packers prepared to give top management pay cuts
As the NFL’s labor situation heads to court in Minnesota, the Green Bay Packers are preparing to clamp down on spending with an uncertain future ahead.
The club announced on Saturday that it has frozen hiring and salaries and that plans are in place for “sizeable salary cuts” at higher levels within the franchise, according to Richard Ryman of the Green Bay Press-Gazette. Those salary reductions have not taken place yet.
“They would be put into effect appropriately,” said Jason Wied, the Packers’ vice president of administration and general counsel. “It’s a real possibility.”
Among those slated for major haircuts to their salary include club president Mark Murphy and general manager Ted Thompson.
“We need to plan for the worst,” Wied said, per the report. “We wanted to end up with a system where we did not lay off employees. That said, it does require sacrifices on the part of the organization.”
Because the Packers are a publicly owned entity, their books are open. According to the report, the club has been planning for such a situation by putting money in a preservation fund. That account had $127.5 million at the end of March 2010.
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Brad Biggs covers the Bears for the Chicago Tribune