Packer 2021 Team Discussion 2.0

[Ron Robinsons Beard]

$300 for a piece of paper...a sucker is born every day. They can make up to $90mil in return for some minimal printing costs. lol

 

The Packers are much more than simply a professional sports team to a lot of people in Wisconsin. The team is truly a big part of their identity. Giving a blanket statement calling those people "suckers" is pretty disingenuous, in my opinion.

 

I don't plan on purchasing a share in this sale, but I will happily admit to buying one in 2011. It has a nice frame, and a place on the wall next to some other memorabilia pieces. It's cool to look at. I guess I'm a sucker too.

[homer]

I think there are plenty of fans of other NFL teams that would gladly pay more than $300 to get rid of their owners.

[MrTPlush]

No need to take it that serious guys.

 

Did I miss why they are holding this one? Wasn't the last one for the 600-700 level addition? I thought these have always had an end goal for the money raised. Unless I skimmed through the article too fast, I didn't see any specific use for it.

[PeaveyFury]

Scoreboards were mentioned someplace. Beyond that, I too don't recall seeing any other 'intended use' statements.

[Ron Robinsons Beard]

No need to take it that serious guys.

 

Did I miss why they are holding this one? Wasn't the last one for the 600-700 level addition? I thought these have always had an end goal for the money raised. Unless I skimmed through the article too fast, I didn't see any specific use for it.

 

My guess is the team is looking into the future, and is likely planning for a worst-case scenario of a few down years starting with next year's likely salary cap mess. The team hitched its wagon to the idea of one last ride in 2021. We are likely going to be staring at a very different packers team starting next season. And while the fanbase will continue to be rabid, fans are probably more likely to fork over money in a stock sale while the team is a legit Super Bowl contender. That may not happen for awhile after this season.

[CheezWizHed]

No need to take it that serious guys.

 

Realize that you just called several of us suckers. I'm guessing you probably wouldn't appreciate someone calling you that.

 

I purchased mine in 2011 and was glad I did it. I take pride in being part of why a major sports team can reside in the smallest pro-team city in the world. I love hearing (like on Sunday) that a city of 100k people fills a stadium of 80k+ people.

 

And while it isn't much... I do have the option to attend the owners meeting (in Lambeau) every year.

[PeaveyFury]

There's a waiting room/line right now, so it appears that demand is just fine at the moment.

[Outlander]

The stock offering does say the funds can only be used for stadium or other capital improvements so if you do attend games you should see some benefit out of it.

[nodakfan17]

I was skeptical about the stock offering at first, but I think it makes sense:

 

1) It’s been 10 years since the last stock sale. New Packer fans have been born or increased their disposable income since the last offering.

 

2) They may be capitalizing on peak popularity. The Packers are 34-8 in the last 2.5 years. Even if Rodgers returns next year, the future holds no guarantees.

 

3) They can replenish their reserve fund after the COVID year. I know they have to use the proceeds for improvements, but the stock sale would allow them to direct other income toward reserves.

[homer]

Hahaha

[jerichoholicninja]

Serious question, what exactly is preventing any other professional sports team from doing this?

[nodakfan17]

Serious question, what exactly is preventing any other professional sports team from doing this?

All of their financials would be in the public domain.

 

Also, some leagues (NBA for sure) specify a maximum number of shareholders. The NBA instituted this rule after Lasry and Edens carved out little ownership shares for all of their buddies. Going public would not be feasible when ownership is limited to a max of 25 shareholders.

 

https://www.google.com/amp/s/nba.nbcsports.com/2015/01/29/report-nba-passes-rule-raising-the-bar-for-team-ownership/amp/

[homer]

Serious question, what exactly is preventing any other professional sports team from doing this?

All of their financials would be in the public domain.

 

Also, some leagues (NBA for sure) specify a maximum number of shareholders. The NBA instituted this rule after Lasry and Edens carved out little ownership shares for all of their buddies. Going public would not be feasible when ownership is limited to a max of 25 shareholders.

 

https://www.google.com/amp/s/nba.nbcsports.com/2015/01/29/report-nba-passes-rule-raising-the-bar-for-team-ownership/amp/

 

In 1980, the NFL adopted new stipulations that did not allow teams to have more than 32 owners encompassing team ownership. Furthermore, the owner had to maintain at least a 30% minimum ownership of the team. (Packers were grandfathered in)

 

Previously, the NFL mandated that 51 percent of a teams ownership must be owned by the main (or principal) owner.

 

In 2004, the league was required to make further changes to assist with rising team values and commenced a period where 20% must be maintained by the principal owner, however, another 10% must be maintained by a family member. This rule was contingent for those teams which maintained ownership for a minimum of 10 years.

 

After those changes, the NFL was at it again some five years later. In 2009, the rules were changed so that principal ownership could be 10% and other family members would maintain 20%.

 

https://bleacherreport.com/articles/432359-should-struggling-nfl-teams-be-allowed-public-ownership

 

It's an interesting thought experiment....would the fans of the St. Louis Cardinals/Rams or San Diego Chargers have been willing to purchase the teams through a public stock sale? But NFL doesn't allow it so we will never know.

[nodakfan17]

Good stuff, Homer. Thank you.

 

I’d love to see long suffering teams with good fan bases (think Browns and Bills) have an opportunity to buy their teams and install a Board of Directors to govern their respective franchises. That does not sound feasible under current league rules.

[GAME05]

Or heck, all those stadiums getting built largely on the taxpayer's dime. If the public is paying for it, the public should get an ownership stake and have representation.

[homer]

Looks like several Packer players are buying shares.

 

[Fear The Chorizo]

Someone better nudge the brass at Halas Hall to make sure they're aware of their own diminishing ownership stake so they don't get in trouble with NFL rules:

 

[Oxy]

So about the Packer stock-- is the actual piece of paper inscribed with a permanent owner's name or something? So the "owner" gets registered somewhere in the Packer owner list and that is a non-transferable claim? Obviously, people could still sell the slip of paper for whatever they want, right?

[homer]

So about the Packer stock-- is the actual piece of paper inscribed with a permanent owner's name or something? So the "owner" gets registered somewhere in the Packer owner list and that is a non-transferable claim? Obviously, people could still sell the slip of paper for whatever they want, right?

 

Yes. Mine has the address where I was living at the time on it too. Not sure if I'm supposed to change that somewhere or what.

 

edit: well I'll be....there's a place to change your address on this site: https://shareholder.broadridge.com/gbp/

[jerichoholicninja]

Let's say the Brewers want to raise a bunch of money in a similar yet "legal" fashion. Couldn't they create an "Owner's Club" and sell pieces of paper that say owner on them for $300. Give the "owners" a bunch of benefits like a big party at the stadium every year where they can pretend to vote on things and maybe even a hat that says owner.

 

I'm not ripping the Packers for doing this I just don't know why other teams haven't tried something similar.

[PeaveyFury]

pretend to vote on things

 

For the record, you do receive a legit proxy statement in advance of the meeting, and you do vote on corporate items like the Board of Directors. Completely lost in the 'worthless piece of paper' narrative.

[nodakfan17]

Toward the end of the Ted Thompson era, when it was obvious to fans that Ted (RIP) wasn’t the same man who built a Super Bowl champion through the draft, I’m surprised there wasn’t a fan campaign to elect a new Board and fire Mark Murphy. I’m not suggesting that would have been appropriate or even possible, but I’m surprised a disgruntled fan didn’t muster enough support to at least make the news.

[MrTPlush]

Let's say the Brewers want to raise a bunch of money in a similar yet "legal" fashion. Couldn't they create an "Owner's Club" and sell pieces of paper that say owner on them for $300. Give the "owners" a bunch of benefits like a big party at the stadium every year where they can pretend to vote on things and maybe even a hat that says owner.

 

I'm not ripping the Packers for doing this I just don't know why other teams haven't tried something similar.

 

I mean you can buy a single season seat for 20 games and get a load of perks and be a 'season seat holder'.

[nodakfan17]

AJ Dillon received the ‘Key to Door County’ for being one of the peninsula’s biggest fans:

 

https://www.yahoo.com/news/packers-running-back-aj-dillon-175701260.html

[nate82]

I am surprised teams haven't done the crowdfunding stuff yet. Fun fact the Statue of Liberty base was crowd funded by Joseph Pulitzer, well not all of the money for it. The total amount raised was something like ~$100k by ~160k people.

 

Teams could get real creative with this especially for things like stadium improvements. Give $100 and get your name engraved in a plaque in the new section. Give $50 and have your name appear on the jumbotron or whatever at the game of your choosing.

 

Lots of creative ways to raise money through crowdfunding that could actually replace some of the extra taxes or increased taxes. If the Packers did a crowdfunding today they could probably raise somewhere between $10-50m easily.