Thread: Did you know - Packers - NON Profit! - Public Company -

"Vikes" wrote:

"scumpuke" wrote:

"Overlord" wrote:

"singersp" wrote:

"Vikes" wrote:

The bottom line Packers exist as a community based company, who when sold or dissolved will give after expenses all profits to charity!

I don't buy that. Someone is lining their pockets & it's not going to the fans who bought stock in that company. The Packers are making money hand over fist. Where is it all going?

When they renovated Lambeau field, the bulk of those funds came from the public in the form of donations & a tax increase & only partially from team funds.

As to where the money is going right now, they do a lot of stuff with it (link).
They have reserve funds, such as a $125 million plus 'franchise preservation fund.'
They also invest in things like land near the stadium.
That and they give great salaries and benefits to their executives.

Now, if the Packers were sold, its nice that their Articles of Incorporation say that the money would go to charity.
However, you'll notice that the articles of incorporation have already been changed to go to a different charity.
If there ever were a sale I can almost guarantee that they would be changed again so that the vast majority of the profits from the sale went to the stock holders.

i was reading that they're freaking out about possible salary cap lift and that the $125 million plus 'franchise preservation fund' is going to be used for that. they're worried they won't be able to compete with no salary cap.

Heck I'm worried the Vikings will not be able to compete without a salary cap.

we will just end up being like the Twins, where we field a nice little team and can even make a run on rare occasions if the stars line up, but mosly we would just be a development team where we draft guys and turn them into solid players so they can eventually sign with the big market teams for more money.

I'm not sure, but I think in order to be a season ticket holder you have to own stock. I know they had another stock offering about 5 years ago and sold out in a matter of a day or so.
Most of you are probably not aware of this but the old "North Stars" were somewhat publically held. I owned a one share of stock because if you were a stockholder, you got free parking and parking in the front rows around the stadium where the plug-in heaters were. I got nothing when they sold the North Stars to Dallas but the extra hundred dollars or so that I paid for it was worth every penny.

"COJOMAY" wrote:

I'm not sure, but I think in order to be a season ticket holder you have to own stock. I know they had another stock offering about 5 years ago and sold out in a matter of a day or so.
Most of you are probably not aware of this but the old "North Stars" were somewhat publically held. I owned a one share of stock because if you were a stockholder, you got free parking and parking in the front rows around the stadium where the plug-in heaters were. I got nothing when they sold the North Stars to Dallas but the extra hundred dollars or so that I paid for it was worth every penny.

Now that had to be cool.

"Vikes" wrote:

"COJOMAY" wrote:

I'm not sure, but I think in order to be a season ticket holder you have to own stock. I know they had another stock offering about 5 years ago and sold out in a matter of a day or so.
Most of you are probably not aware of this but the old "North Stars" were somewhat publically held. I owned a one share of stock because if you were a stockholder, you got free parking and parking in the front rows around the stadium where the plug-in heaters were. I got nothing when they sold the North Stars to Dallas but the extra hundred dollars or so that I paid for it was worth every penny.

Now that had to be cool.

no, there is a waiting list to get season tickets, but you do not have to be a stockholder if I understand correctly. A friend of mines grandpa has 3 sets of season tickets for lambeau, but he does not own any stock. He makes bank when he sells them babies.