Want To Be An NFL Team Owner? The Green Bay Packers Are Selling Ownership Shares For The First Time In A Decade
If you've ever wanted to claim ownership of an NFL team, you now have a chance to become a part-owner of one of the region's teams.
The Green Bay Packers announced they will open sale of shares in "team ownership" stock this week, marking the first time this has happened in a decade.
Even casual NFL fans know that Green Bay's team ownership structure is unique in the league. While the other 31 teams in the league either have a single primary owner or ownership group, the Packers stand as the only publicly-owned team, holding that title since 1923.
While managed by a 7-member executive committee led by president Mark Murphy, the team is "owned" by about 361,300 shareholders, who own just over 5 million shares of stock in the team
This marks the sixth time the team has offered sale of ownership stock, doing so as well in 1923, 1935, 1950, 1997, and 2011. As ESPN's Rob Demovsky explains, these stock sales are motivated by the team's financial needs.
The first three stock sales were "done out of necessity to keep the team afloat financially" while the two most recent stock sales were done to come up with funds for stadium expansion and other projects. Being they have no "rich person" owner to invest into the team, the NFL occasionally lets the team open stock sale for specific purposes.
While being able to call yourself an owner of an NFL team, that is about the extent of the benefits of owning Packers stock. Shares in Packers ownership stock hold no value, they don't pay any dividends, don't offer any tax incentives, and they offer no real say in what the team is doing. I guess you might say it is just something a superfan can do to earn something cool to put on their mantle or earn bragging rights at a bar.
If you're interested in buying shares this time around, here are some key things to know:
- Shares will be sold for $300 each, plus a handling fee
- The team will offer 300,000 shares in this new sale (which will generate $90 million in revenue, if they sell all of the shares in the offering)
- Only those living in the United States, Guam, Puerto Rico, and the US Virgin Islands are allowed to purchase shares
- No one person may by more than 200 shares - which includes any shares that may have been purchased in the 1997 and 2011 offerings
- You can't buy shares as a group - only as individuals or jointly as spouses
- You can buy shares as a gift for other individuals
Shares will officially go on sale at 8:00 am Central Time on Tuesday, November 16. The offering will remain open through February 25, 2022.