3 ms·
This is why I respect how the Green Bay Packers raise money. They sell “ownership” of the team. Sure, it’s largely a novelty without much real ownership benefit
by bumby 4y ago
This is why I respect how the Green Bay Packers raise money. They sell “ownership” of the team. Sure, it’s largely a novelty without much real ownership benefits, but it seems like a better approach than using taxpayer dollars to subsidize a highly profitable business.
- kerbs 4y agoVery against the rules. The Packers aren’t savvy here, they just existed long before business interests shut that practice down.
- rtkwe 4y agoThe original stadium was funded like most others with a bond measure passed by the city not from the Packers organization. The more recent remodel was done through the 'stock' sale though.
- maxerickson 4y agoWikipedia has a summary: https://en.wikipedia.org/wiki/Green_Bay_Packers#Community_ownership https://en.wikipedia.org/wiki/Green_Bay_Packers#Community_ow... The NFL (and other professional leagues) probably wouldn't allow a similar structure to be put in place for another team. Sort of ironically, Green Bay paid to build Lambeau Field in the 1950s.
- jasonladuke0311 4y agoI’m certain the NFL and other owners would sacrifice children to change GB ownership structure if they could.
- vitaflo 4y agoTo be fair, the renovation back in 2001 (IE, Lambeau as you know it today) was partly funded through tax payer dollars (as well as a stock sale). There was a referendum on the ballot to increase sales tax by 0.5% in Brown County for something like 15 years. So the public got to vote on it (it passed). I purchased my Packers stock at that time and voted Yes to the sales tax increase (lived in GB at the time). But yes the Packers will do stock sales to help fund stadium improvement, or just pay it themselves.