The Green Bay Packers are one of a kind in professional sports, not just due to their storied history and on-field accomplishments but also because of their unique ownership model. The Packers are the only NFL franchise that is
a publicly owned nonprofit corporation. This structure has had a profound impact on their operations, how they interact with the community, and even their success. Knowing how community ownership affects the Packers gives insight into why they continue to be a popular franchise.
A Brief History of Community Ownership
The Green Bay Packers were established in 1919 by Earl “Curly” Lambeau and George Calhoun. The Packers were a community project from the start, depending on local support for their survival. In 1923, the Packers became a publicly owned corporation, with the fans being able to purchase stock in the team. This unorthodox method was used to help keep the franchise solvent during lean financial times, particularly during the Great Depression when a number of teams did not survive.
Now, for hardcore Packers fans, part-ownership and exploration of different bonuses such as the Bet365 Illionois Bonus code, can make that interest and attachment even more significant. The passion of such shareholders manifests itself in terms of limitless enthusiasm at games and within community events.
There have been six share issues since that time, the latest in 2021. There are more than 538,000 shareholders who own a total of approximately 5.2 million shares to date. The shares are priced at $300 and do not come with dividends or spectacular financial returns. Instead, ownership gives the fans a voice in team management and a feeling of being a part of something bigger than themselves.
The Financial Stability Brought About by Community Ownership
The community ownership has given the Packers a stable financial base that is unusual for NFL franchises. The team had revenue of $638 million in the 2023 fiscal year and earnings before interest, taxes, depreciation, and amortization of $128 million. The revenue covers player salaries, upkeep of Lambeau Field, and other operating expenses.
Since the Packers are a nonprofit, they are less vulnerable to financial pressure that has a tendency to afflict privately owned franchises. For instance, they have no need to appease profit-making investors or shareholders who are clamoring for dividends. This enables them to think in the long term instead of being fixated on short-term profits. The model of community ownership has helped to keep the team in Green Bay—a comparatively small market among other NFL cities—by promoting fan loyalty among people who feel they have a personal interest in the team’s fortunes.
Governance and Fan Involvement
The governance system of the Packers is another component of their community ownership structure. The team is controlled by an elected board of directors that is chosen by the shareholders. The board is comprised of unpaid volunteers, perpetuating the notion that this is a community-driven organization and not a profit-driven business. The shareholders do have the right to attend yearly meetings in which they can make their voices heard and vote on significant matters regarding the franchise.
This democratic process instills a strong sense of togetherness between the fans and the team. It provides an avenue whereby decisions are made in consideration of the fans’ welfare. For instance, while making significant renovations to Lambeau Field or altering coaches, shareholder opinion may prove to be a deciding point in such matters.
The Cultural Impact on Green Bay
The Packers’ influence on culture extends far beyond the gridiron. Because the team is publicly owned, the locals feel invested and proud of their franchise. You can feel the connection on game day when Lambeau Field is packed with fans in green and gold attire—many of whom are, in fact, shareholders.
The success of the Packers has also prompted other sporting teams to pursue different models of ownership that provide greater focus on community participation as opposed to corporate agendas. Their ability to endure despite having one of the smallest markets in professional sports is a testament to the fact that passion and loyalty can conquer economic might.
Challenges Facing Community Ownership
Though there are numerous benefits to community ownership, there are also some unique challenges. For example, since shares cannot be sold on an open market (except back to family members), it restricts liquidity for shareholders. Additionally, there is a limit to the number of shares one person can own—200,000 shares—so that no one person can gain control of the franchise.
Furthermore, this model prevents private equity investors from collaborating with the team because they are not able to use their investments to generate a profit. This can constrain possible sources of funding for future projects or expansion. This constraint has not, nevertheless, harmed the Packers’ financial well-being or competitive achievement on the field.
Conclusion: A Model for Success
The Green Bay Packers illustrate how public ownership can translate into long-term success both on and off the field. By prioritizing fan participation and local support over corporate interests, they have created a unique franchise that is full of loyalty and community pride. With their secure finances, they can think long-term and have sound relationships with their fans.
While other franchises peer out at emerging models of ownership in a new world of sports, the Packers are a shining example of how prioritizing the fan can equate to long-term success. With each sale of stock, which includes an annual meeting, they continue to remind themselves of their pledge to be more than a football franchise—they are part of Green Bay’s fabric and identity.