Green Bay Packers owned by the fans?

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  • Tiko7523
    MVP
    • Aug 2009
    • 1595

    #1

    Green Bay Packers owned by the fans?

    The public. Green Bay are the only nfl team to not have an owner. All money earned goes back into the club.---------------The Packers are deeply rooted in the Wisconsin city where they were founded in 1919. They were named after a local meat processing plant, the Indian Packing Company, which paid for the first uniforms. Starting in the 1920s, the Green Bay Football Corp. made a series of public stock offerings. In 1950, 1,900 local residents each put up $25 a share to buy the team.From the Packers' web site:"Green Bay Packers, Inc., has been a publicly owned, non-profit corporation since Aug. 18, 1923, when original articles of incorporation were filed with Wisconsin's secretary of state.A total of 4,750,937 shares is owned by 112,120 stockholders -- none of whom receives any dividend on the initial investment.The corporation is governed by a board of directors and a seven-member executive committee.One of the more remarkable business stories in American history, the team is kept viable by its shareholders -- its unselfish fans. Even more incredible, the Packers have survived during the current era, permeated by free agency and the NFL salary cap. And, thanks in large part to Brown County's passage of the 2000 Lambeau Field referendum, the club will remain solvent and highly competitive well into the future due to its redeveloped stadium.Fans have come to the team's financial rescue on several occasions, including four previous stock sales: 1923, 1935, 1950 and 1997.To protect against someone taking control of the team, the articles of incorporation prohibit any person from owning more than 200,000 shares."From a proud shareholder from the '97 sale.


    The public. Green bay are the only nfl team to not have an owner. All money earnt goes back into the club.
    ---------------
    The Packers are deeply rooted in the Wisconsin city where they were founded in 1919. They were named after a local meat processing plant, the Indian Packing Company, which paid for the first uniforms. Starting in the 1920s, the Green Bay Football Corp. made a series of public stock offerings. In 1950, 1,900 local residents each put up $25 a share to buy the team. They and their descendants remain the owners. No one owns more than 200 shares of Packers stock. And it pays no dividends -- every cent goes back to the team in pay or toward the improvement of facilities. The result is a community -- and team -- spirit unmatched in any other National Football League city. That's why Packer players who score touchdowns leap into the stands to embrace spectators. That's why fans at Lambeau Field sing "Amazing Grace" during time-outs. That's why, as Bruce Adams of the San Francisco Examiner wrote last year, "a group of nuns 75 miles away in Fond du Lac prays for the Packers on Sunday morning and then settles down in front of a television set to watch the game."
    It's also one reason why a team from the small northern town of Green Bay could beat all the big, bankrolled teams from New York to Los Angeles -- the Packers have soul.

    man i think thats the coolest thing i have heard in a while no wonder they have such support and have sell out stadiums
    Miami Dolphins
    Miami Heat

    PSN gamertag Tiko7523
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  • Yeah...THAT Guy
    Once in a Lifetime Memory
    • Dec 2006
    • 17294

    #2
    Re: Green Bay Packers owned by the fans?

    Yeah I found out about that a couple years ago. Mad cool.
    NFL: Bills
    NBA: Bucks
    MLB: Cubs
    NCAA: Syracuse
    Soccer: USMNT/DC United

    PSN: ButMyT-GunDont

    Comment

    • Hooe
      Hall Of Fame
      • Aug 2002
      • 21555

      #3
      Re: Green Bay Packers owned by the fans?

      I have relatives on my mom's side of the family who own Packers' stock. Very cool indeed.

      Comment

      • SPTO
        binging
        • Feb 2003
        • 68046

        #4
        Re: Green Bay Packers owned by the fans?

        The only other pro sports franchise in North America that is community owned that I can think of is the Saskatchewan Roughriders of the CFL. I think the Blue Bombers were community owned for a time as well but they now have private ownership.

        It's a pretty neat and interesting concept.
        Member of the Official OS Bills Backers Club

        "Baseball is the most important thing that doesn't matter at all" - Robert B. Parker

        Comment

        • Piderman
          Banned
          • Apr 2009
          • 1953

          #5
          Re: Green Bay Packers owned by the fans?

          Wow thats way cool, all i have is an old man running the team...it doesnt sound to bad, but when half your fans are wishing death upon him...well ill let that speak for its self

          Comment

          • deaduck
            MVP
            • Mar 2009
            • 2389

            #6
            Re: Green Bay Packers owned by the fans?

            I remember reading somewhere that the ownership structure has made upgrading Lambeau field tricky because of the income structure. They every so often have to have a stock sell off to regain sliding funds and they can't produce the funding to take care of the stadium properly.

            Comment

            • grunt
              Banned
              • Jul 2002
              • 9527

              #7
              Re: Green Bay Packers owned by the fans?

              Socialism at his best.

              Comment

              • MattieShoes
                Rookie
                • Aug 2006
                • 489

                #8
                Re: Green Bay Packers owned by the fans?

                Socialism is a he?

                Comment

                • metallicatz
                  Banned
                  • Sep 2003
                  • 1869

                  #9
                  Re: Green Bay Packers owned by the fans?

                  I've always felt socialism was hermaphroditic.

                  Comment

                  • MattUMD224

                    #10
                    Re: Green Bay Packers owned by the fans?

                    so who does all the decision making for them such as coach and GM

                    Comment

                    • kehlis
                      Moderator
                      • Jul 2008
                      • 27738

                      #11
                      Re: Green Bay Packers owned by the fans?

                      Board of directors.

                      Comment

                      • ProfessaPackMan
                        Bamma
                        • Mar 2008
                        • 63852

                        #12
                        Re: Green Bay Packers owned by the fans?

                        ^Yup.
                        #RespectTheCulture

                        Comment

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