The Green Bay Packers stand as the only NFL team owned by its fans, a unique model in professional sports. Unlike other franchises that are privately owned by individuals or partnerships, the Green Bay Packers operate as a publicly owned nonprofit, and this structure has been in place since the team’s earliest days.
Over time, the Green Bay Packers have held stock sales, allowing fans to purchase ownership stakes in the team. While these shares do not appreciate in value or pay dividends, they grant holders the pride of ownership and the ability to attend shareholder meetings.
The Green Bay Packers first sold stock in 1923 to ensure the team’s survival, selling 1,000 shares at $5 each. This move helped the organization remain financially stable and set the foundation for the unique ownership structure we see today. Since then, the Packers have held multiple stock offerings, each time allowing new generations of fans to become “owners.”
- 1923: As the Packers struggled financially, they launched their first stock sale, offering shares at $5 each to help cover operating expenses.
- 1950: In another time of need, the Packers offered more stock, raising $118,000, which helped them fund the construction of a new stadium.
- 1997-98: The Packers launched a third stock sale, with shares priced at $200 each. This sale brought in $24 million to fund renovations to Lambeau Field.
- 2011: To support another round of stadium improvements, the team sold additional shares at $250 each, raising $67 million.
- 2021: Most recently, the Packers offered shares at $300 each, allowing more fans to join the ownership ranks. This sale raised $65 million for further upgrades to Lambeau Field.
While these shares do not carry traditional financial benefits, Green Bay Packers stockholders can attend annual meetings and vote on various team matters, fostering a deep connection between the franchise and its fans.
In contrast to the Green Bay Packers’ fan-based ownership model, the NFL recently made a significant policy shift. In 2024, the league approved private equity firms to purchase up to a 10% equity stake in NFL teams. This marks a significant departure from the traditional ownership rules, which typically restricted ownership to individuals or small groups. The decision to allow private equity firms to invest introduces a new financial dynamic to the league, potentially boosting franchise valuations and allowing owners to cash out part of their stakes.
Private equity investments could bring substantial capital to NFL teams, making them more competitive financially. However, it also shifts ownership dynamics, with teams potentially becoming more corporate in their management. This contrasts sharply with the Green Bay Packers’ fan-based structure, which remains grounded in community and tradition rather than profit-driven motives.
The Green Bay Packers’ ownership model is truly one-of-a-kind. While most NFL teams are owned by wealthy individuals or corporate groups, the Green Bay Packers’ public ownership sets them apart. With over 537,000 shareholders, the Green Bay Packers are owned by their fans, who hold over 5 million shares. These stockholders do not profit financially from their shares, but they gain the satisfaction of being part of the team’s legacy.
This structure provides stability for the Green Bay Packers, ensuring they will remain in Green Bay indefinitely. There is no majority owner who could potentially move the team, as we’ve seen with other franchises in the past. Instead, the Green Bay Packers’ loyalty to their community is enshrined in their ownership model.
As the only publicly owned team in the NFL, the Green Bay Packers are a shining example of how fan engagement can transcend traditional team ownership. With their long history of stock sales and dedicated fanbase, they will continue to stand out as a unique force in the league, no matter how much private equity reshapes the rest of the NFL.
While the NFL is moving toward private equity involvement, the Green Bay Packers’ fan-based ownership model remains unmatched. This connection between the team and its fans ensures that the Packers are not just a franchise—they are a community institution, owned by those who love them the most.
1,858 × 1,0
The Green Bay Packers are the one NFL team owned by its fans. Here’s how it works