GREEN BAY, WI (WTAQ) - The Green Bay Packers request for a loan from the NFL to help cover costs from the $143 million Lambeau Field renovation has been approved.
"We’re very pleased that the owners voted to provide funding for our project. When we decided not to pursue any public money for the project, we were hopeful we would be able to receive funding through the new Collective Bargaining Agreement," says Packers President and CEO Mark Murphy.
The league okayed $58 million in funding from their G4 program.
"It’s getting harder and harder to get public money, so I think the league and the players have to be creative to ensure that stadiums don’t become outdated," said Murphy.
Murphy says it greatly reduces the amount of money the team must borrow for the renovation, which he adds benefits the Packers in the long-term.
Lambeau Field's 2003 renovation also benefited from a similar program.