As Seen in CFO Studio Magazine Q3 2016 Issue
FRANK GUMIENNY TELLS CFOS THAT WHAT’S IMPORTANT IN HIS SPORT IS WHAT’S IMPORTANT IN ALL OF BUSINESS TODAY
As Philadelphia Eagles CFO Frank Gumienny told more than 100 finance executives in attendance at the CFO Studio Reception to introduce the Q1/Q2 issue of CFO Studio magazine, “I don’t just work for the Eagles. I am an Eagle!” Mr. Gumienny oversees all accounting, ticketing, human resources, IT, merchandising, and travel operations for the team. He is also CFO of Lincoln Financial Field. Gumienny spoke in an engaging, off-the-cuff manner, describing the job he’s had for 19 years, providing a fascinating glimpse at life in an NFL franchise. The event was held at Galloping Hill Golf Course in Kenilworth, NJ, recently.
He talked about passion: “We’re in the passion business. Our customers feel that passion and we bring passion to our customers, so we look to hire Eagles; it has to be who you are.” He described the democratic way the Eagles organization eats meals together, with players, his finance team, and others often mingling. He enumerated the top revenue sources (TV’s the biggest, then corporate sponsorship, ticketing, merchandise, and parking). He even addressed the hottest topic of the day, the signing of Quarterback Sam Bradford to a two-year contract extension, saying, “I’ll get the actual signing details when I get back. A lot of times we’ll meet and talk about what we’re going to spend and when we’re going to spend it, and then I’ll see that in the negotiation it’s been changed. And really, it’s my job and the finance department’s job to make it work.”
Answering a question about player negotiations, he said: “I don’t get involved in the specifics but I do get involved in talking to the players about taxation once they sign and what their check’s going to look like.”
A question about whether Moneyball (some baseball franchises use “Moneyball” analytics in their scouting and management) is applicable to football got Mr. Gumienny talking about some of the intangibles in football that make a big difference: teamwork, camaraderie, and “game day harmony.” He said, “It goes back to what’s important in every business: teamwork, hard work, working together, and everything that CFOs do, with your finance team and your organization in general.”