If/when the Commissioner tries to fine a north-of-the-border “owner” for criticizing the NFL or one of its teams, perhaps the shareholder can claim diplomatic immunity. However, the franchise has been unable to secure the appropriate approval for the program in countries other than the United States and Canada.Īs to the Canadian shareholders, Josh Alper of PFT has raised an interesting point. We’ve heard from multiple fans in the UK who would like to purchase Packers stock. “We have now clarified the regulatory requirements in Canada and are excited to officially offer ownership to our Canadian fans.” “Upon announcing our sale in the United States, we received immediate interest from Packers fans in Canada who were hopeful the offering would be available there,” Packers President/CEO Mark Murphy said in a release. The only team that hasn’t played a regular-season game outside the United States (there are rumblings that they’ll “host” a 2022 game in Germany), the Packers will make the currently ongoing sale of their stock available to fans in Canada. Mark Murphy is the President and CEO of the Packers, and represents the team at the NFL’s owners meetings.The Packers officially are going international. The executive committee runs the Packers, and is ultimately responsible for the direction of the football team and organization. Who runs the Packers organization?Ī 45-member board of directors is elected by the stockholders, who in turn elect a seven-member executive committee. In recent history, this meeting has coincided with the start of training camp. The purpose of the meeting is to elect the 45-member board of directors and for the executive committee to report on the health of the organization. The shareholders meeting takes place each year inside Lambeau Field. There are three major benefits to owning a share of stock in the Packers: voting rights, an invitation to an annual shareholders meeting, and the ability to purchase merchandise specifically for shareholders. Additionally, being a shareholder of the Packers does not provide any preferential treatment or access to season tickets. Shares do not pay dividends, cannot increase in value and does not include any equity. Shareholders in the Green Bay Packers are unlike traditional shareholders of a company. What benefits do you get if you’re an owner of the Packers? The most recent stock sale happened in 20, when 269,000 shares were sold at $250 apiece to raise funds towards a $143 million addition in the south end zone of Lambeau Field. And he presided over the Packers' controversial decision to stop playing. Since the AFL/NFL merger in 1970, the team has held a stock sale shortly after its two Super Bowl victories. He authorized the construction of the Don Hutson Center, giving Green Bay one. Once again Green Bay has proven to the nation what civic pride means. The game and stock sale brought in around $100,000 and club president Emil Fischer praised fans at a victory party, saying, “We’ve done it again. The team was facing $90,000 in losses in late 1949, and scheduled a Thanksgiving Day intrasquad game to raise enough funds to finish the season. This sale sold shares at $25 apiece (about $450 in today’s money) and was pitched as more of a fund drive. If you purchased five shares of stock, you received a box seat for every home game.Ī second sale in 1935 helped keep the team afloat after a local fan sued the Packers for $5,000 after falling out of the stands at City Stadium. The team brought in about $5,585 by selling 1,000 shares at $5 apiece (about $70 in today’s money). The first was in 1923 facing bankruptcy the Packers turned to local merchants to help raise money. The Packers have turned to stock sales five times to raise money. It’s not outrageous to say that without community support, the Packers would have folded. 00002%, and no one individual can own more than 4% of the outstanding shares. Each individual share equals approximately. As of 2014, there are 360,760 stockholders who own a share in the team. The Packers ownership group is a little larger than 24. If you look at a map of the United States, most won’t even show Green Bay as it’s the third-largest city in the state behind Milwaukee and Madison. Green Bay, Wisconsin has a population of 104,057 as of the 2010 census, easily making it the smallest home city of an NFL team. And then there’s the Green Bay Packers, the only community-owned franchise in American professional sports. Sure, there are jobs that may offer a higher salary or more exposure, but owning a team is the top of the heap.įor 31 other NFL franchises, the owners must be a group of 24 or fewer people and cannot be a religious group, government or non-profit organization. Other than President of the United States, there’s probably no more prestigious position in our country than an owner of a professional sports team.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |