Asked in Football - AmericanGreen Bay PackersGreen Bay
Who owns the Green Bay Packer team?
November 21, 2009 3:47PM
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.