The Green Bay Packers stand out as the only National Football League team with an ownership structure that resembles a publicly traded company. With a valuation of $6.3 billion, the Packers are ranked as the 12th most valuable NFL franchise. This unique structure, established over 100 years ago, sets the Packers apart from the other teams in the league.
Ownership by Stockholders
Unlike the typical privately owned NFL franchises, the Green Bay Packers are completely owned by stockholders. These stockholders, many of whom are loyal Packers fans, have acquired shares in the team through six stock offerings that have taken place over the years. As of 2024, there are over 5.2 million outstanding shares owned by more than 538,000 individuals. It is important to note that these shares do not pay dividends, are nontransferable, and do not hold any intrinsic market value.
Financial Aspects of Ownership
While shareholders have the privilege to attend the team’s annual meeting and vote for a board of directors, they do not receive any financial gains from ownership. The team’s revenue of $638 million in 2023 is used towards player salaries, maintaining Lambeau Field, and marketing efforts. Shareholders can only make money by selling their stake back to the team, and even then, it is for a percentage of the original purchase price.
The Green Bay Packers impose a cap of 200,000 shares per person, which equates to less than 4% of the team’s total outstanding shares. While private equity firms are allowed to own up to 10% of a franchise, the unique structure of the Packers makes them less attractive to potential investors. The infrequency of stock offerings also poses a challenge for fans looking to own a piece of the team, as timing is often an obstacle.
The first stock offering in 1923 priced shares at $5, a far cry from the current valuation of an NFL team. Despite the increasing prices over the years, with the latest offering starting at $300 in 2021, it remains a relatively small investment compared to the average team valuation. This accessibility allows Packers fans to have a stake in the team, albeit a minority one.
Standing Out in the NFL
Aside from their ownership structure, the Green Bay Packers also stand out in the NFL in other ways. Being located in the smallest television market of all 32 teams, Green Bay lacks the high level of tourism that other NFL cities benefit from. Additionally, the team’s long-term stability at quarterback, transitioning from Brett Favre to Aaron Rodgers to Jordan Love, has drawn both admiration and frustration from fans and organizations.
The Green Bay Packers’ unique ownership structure sets them apart from the rest of the NFL. With a history of stock offerings and a commitment to their fans, the Packers continue to thrive as a nonprofit organization driven by the support of their dedicated shareholders.
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