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Why can't the Green Bay Packers ownership model get embraced?
Posted on 1/22/15 at 3:21 pm
Posted on 1/22/15 at 3:21 pm
As I understand it, they are really the only professional sports franchise that is allowed to have the model of local citizens basically owning shares in the franchise. Why them and nobody else?
Thinking about this coming Benson shitstorm (and others from other franchises in their successions over the years), has me wondering why sports leagues wouldn't want to embrace this as an ownership model. Anyone?
Thinking about this coming Benson shitstorm (and others from other franchises in their successions over the years), has me wondering why sports leagues wouldn't want to embrace this as an ownership model. Anyone?
9
Posted on 1/22/15 at 3:22 pm to Y.A. Tittle
B/c pro sports teams in the US say frick not being able to hold cities hostage for new facilities via threat of moving.
Posted on 1/22/15 at 3:22 pm to Y.A. Tittle
Ego and money.
Posted on 1/22/15 at 3:23 pm to Y.A. Tittle
because socialism
Posted on 1/22/15 at 3:24 pm to emoney
quote:
Ego and money.
That's overly simplistic, though. There's plenty of that throughout every other industry that embraces public/fractional ownership.
Posted on 1/22/15 at 3:24 pm to Y.A. Tittle
Them and the Celtics. Grandfathered in, both of them. Not sure why. OT Ballers know all about this stuff. Maybe one of them can come here and explain.
Posted on 1/22/15 at 3:24 pm to Y.A. Tittle
Because rich guys like owning sports teams and the league likes them driving the price up.
Posted on 1/22/15 at 3:28 pm to Y.A. Tittle
Because this is fricking gay...
quote:
Even though it is referred to as "common stock" in corporate offering documents, a share of Packers stock does not share the same rights traditionally associated with common or preferred stock. It does not include an equity interest, does not pay dividends, can not be traded, has no securities-law protection,[citation needed], and brings no season ticket purchase privileges. All shareholders receive are voting rights, an invitation to the corporation's annual meeting, and an opportunity to purchase exclusive shareholder-only merchandise. Shares of stock cannot be resold, except back to the team for a fraction of the original price. While new shares can be given as gifts, transfers are technically allowed only between immediate family members once ownership has been established.
Posted on 1/22/15 at 3:32 pm to Y.A. Tittle
who actually makes money from the packers?
Posted on 1/22/15 at 3:35 pm to Y.A. Tittle
I believe their team has a board of directors that actually work for the Packers. They make the money that the owners would make. Those shares don't mean anything. 
Posted on 1/22/15 at 3:37 pm to Goldrush25
quote:
I believe their team has a board of directors that actually work for the Packers. They make the money that the owners would make. Those shares don't mean anything.
Yeah, it's still basically fractional ownership that is not allowed for any other team. It should be. You'd have a lot less shitstorms than stuff like the Saints are about to go through.
Posted on 1/22/15 at 5:20 pm to Goldrush25
I have a bunch of friends that own shares of the team. I don't know much about it, but they just like having the certificate of ownership. It's almost like the huge line of people waiting for season tickets for the Packers. They're on the list just to say they are.
Posted on 1/22/15 at 5:28 pm to ballscaster
quote:
the Celtics
Wyc Grousbeck?
Posted on 1/22/15 at 5:36 pm to Y.A. Tittle
The shares sold to the public literally mean nothing
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