The Green Bay Packers, worth $6.3 billion, stand out as the only publicly owned team in the entire National Football League. Unlike other franchises, which are typically owned by wealthy individuals or families, the Packers are owned entirely by stockholders. This unique ownership structure was established over a century ago and has remained unchanged throughout the years. With more than 5.2 million outstanding shares held by over 538,000 individuals, the team’s ownership base is largely made up of dedicated Packers fans.
Shareholders in the Green Bay Packers have a different experience compared to traditional sports team owners. While they have the opportunity to attend the team’s annual meeting and vote for a board of directors, they do not receive any financial benefits from their ownership. The shares do not pay dividends, cannot be sold outside of passing down to a family member, and hold no intrinsic market value. The only way for a shareholder to make money from their stake is by selling it back to the team, and even then, they only receive a percentage of the original share price.
Despite the team’s unconventional ownership model, the Green Bay Packers remain a profitable entity. In 2023, the team generated $638 million in revenue, with earnings before interest, taxes, depreciation, and amortization reaching $128 million. The revenue generated by the team is used to cover player salaries, maintain their iconic Lambeau Field stadium, and fund various marketing initiatives. The Packers operate as a nonprofit organization, with only the team president receiving compensation among the executive committee members.
The unique ownership structure of the Green Bay Packers limits the ability of private equity investors to acquire a significant stake in the team. With a strict limit of 200,000 shares per individual owner, the team’s ownership is spread out among a large number of shareholders. This ownership cap, combined with the infrequency of stock offerings, makes it challenging for fans or investors to acquire a piece of the team. While the share prices have increased over the years, they still represent a small fraction of the team’s overall valuation in today’s NFL landscape.
The Green Bay Packers’ status as the only publicly owned team in the NFL sets them apart from their counterparts in the league. From their dedicated fan base to their historic ownership structure, the Packers embody a sense of community ownership and pride that is unparalleled in professional sports. Despite their small market size and lack of traditional revenue streams, the Packers continue to thrive and compete at the highest level, showcasing the enduring spirit of a team owned by the people, for the people.