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NFL helps Packers finance Lambeau renovations

The SportsXchange

NFL owners have approved a $58 million loan to help the Green Bay Packers renovate Lambeau Field.

Packers president Mark Murphy said the team now has the financing in place to complete a $143 million expansion, the Green Bay Press-Gazette reported Tuesday.

The team is adding more than 6,500 seats in the south end zone. A new sound system, video board and entrance already are in place as part of the project.

The league assistance comes from a program in the collective bargaining agreement that offers clubs a maximum $150 million in loans. The San Francisco 49ers were the first team to take advantage of the loans to help construct a new stadium in Santa Clara, Calif.

The Packers already had raised $64 million from a stock sale last winter.

Murphy said the team is "still on track to announce details for the new construction by the end of the year, with work beginning as soon as possible."
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