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Being an owner of the Green Bay Packers is essentially worthless. Yes, I'm serious.
Time for a thread
Time for a thread
1) The Green Bay Packers pride themselves on being the only publicly-owned, not-for-profit, major league professional team in the US.
Rather than having a single wealthy owner, the Packers are owned by fans - specifically 360,760 shareholders owning a total of 5,011,558 shares.
Rather than having a single wealthy owner, the Packers are owned by fans - specifically 360,760 shareholders owning a total of 5,011,558 shares.
2) The Green Bay Packers story goes like this:
In 1923, the Packers found themselves in financial trouble, so they sold shares to local residents in order to keep the lights on. Since then, the team has held four additional stock offerings in 1935, 1950, 1997 and 2011.
In 1923, the Packers found themselves in financial trouble, so they sold shares to local residents in order to keep the lights on. Since then, the team has held four additional stock offerings in 1935, 1950, 1997 and 2011.
3) In 2011, the Packers sold shares in both the US and Canada with all proceeds from the offering supporting the expansion of Lambeau Field.
The project cost $146-million and included a new audio system, two new HD video boards, and approximately 7,000 additional seats.
The project cost $146-million and included a new audio system, two new HD video boards, and approximately 7,000 additional seats.
4) What do shareholders get?
Packers shareholders get to “vote to elect Green Bay’s board of directors and a seven-member executive committee that represents the team at league meetings.”
However, shareholders “have no real say in team decisions, football or otherwise.”
Packers shareholders get to “vote to elect Green Bay’s board of directors and a seven-member executive committee that represents the team at league meetings.”
However, shareholders “have no real say in team decisions, football or otherwise.”
5) GB fans looking to make a profit will have to look elsewhere:
The Packers stock pays no dividend and isn’t tradeable or able to be sold.
In 2011, a single stock went for $250 which bought shareholders a souvenir, access to exclusive merchandise, and a visit to Lambeau Field.
The Packers stock pays no dividend and isn’t tradeable or able to be sold.
In 2011, a single stock went for $250 which bought shareholders a souvenir, access to exclusive merchandise, and a visit to Lambeau Field.
6) One way to make a profit off your Packers ownership?
Hold onto your stock certificate.
Here is an original 1923 Green Bay Packers stock certificate. Although it cost $5 in 1923, the original copy just sold for $10,500.
Hold onto your stock certificate.
Here is an original 1923 Green Bay Packers stock certificate. Although it cost $5 in 1923, the original copy just sold for $10,500.
7) Why aren’t other NFL teams publicly owned?
In 1960, the NFL implemented the “Green Bay Rule” which states that “charitable organizations and/or corporations not organized for profit and not now a member of the league may not hold membership in the National Football League.”
In 1960, the NFL implemented the “Green Bay Rule” which states that “charitable organizations and/or corporations not organized for profit and not now a member of the league may not hold membership in the National Football League.”
8) Last week the Green Bay Packers announced their financials for FY ending 3/31.
- Franchise record $506.9M in revenue (+8%)
- Total expenses of $436M (-8.5%)
- Profits from Ops at $70.3M, a 9,610% increase.
For reference, the player salary cap is $198M.
- Franchise record $506.9M in revenue (+8%)
- Total expenses of $436M (-8.5%)
- Profits from Ops at $70.3M, a 9,610% increase.
For reference, the player salary cap is $198M.
9) The Packers received a national revenue check of $296M from the NFL - enough to cover player expenses for the year.
Since each team receives the same national revenue payment from the league, that means the 32 NFL teams split $9.47 billion before a single ticket was sold.
Since each team receives the same national revenue payment from the league, that means the 32 NFL teams split $9.47 billion before a single ticket was sold.
10) How will COVID-19 impact the Packers?
They believe only 10,000-12,000 of their ~82,000 seats will be filled in 2020 (~15%).
With a rainy day fund of ~$400M and increasing national revenue checks from league offices, the Packers seem confident that they'll be fine.
They believe only 10,000-12,000 of their ~82,000 seats will be filled in 2020 (~15%).
With a rainy day fund of ~$400M and increasing national revenue checks from league offices, the Packers seem confident that they'll be fine.
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