Ever want to buy a pro sports team, but don’t have a few extra billion dollars lying around? Well, you can… sort of.
The Green Bay Packers aren’t owned by a billionaire, it’s a franchise owned by the fans.
#packers #greenbaypackers #greenbay
Transcript:
ROSS KOHAN: Ever want to buy a pro sports team, but don’t have a few extra billion dollars laying around?
Well — you can! Sort of…
There are 124 organizations across the 4 major sports leagues in the U.S., and all of them are owned by the ultra wealthy.
Except for one: the Green Bay Packers.
The Packers are actually a publicly-owned corporation with more than 530,000 shareholders who own a collective 5.2 million shares.
And all of them paid hundreds, if not thousands, of dollars to own a piece of a team they’ll never receive a dividend check from.
Despite owning a piece of the team, shareholders also get no say in team decisions — that’s handled by a board of directors.
And it’s not like you can log into your Robinhood account and buy Packer stock. The team has held just six stock sales in its history, most recently in 2022 when aspiring owners forked over $300 a share.
In that sale, the Packers sold nearly 200,000 new shares and raised more than $65 million — money that was used to pay for upgrades to Lambeau Field.
And to protect the franchise from a single shareholder taking control of the team, no one can purchase more than 200,000 shares.
So if you’ve ever dreamed of owning a professional sports franchise, here’s your chance. Just don’t expect to hoist the Lombardi trophy if the Packers win the Super Bowl.
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