Packers, the only team you can “buy” even if you’re not a millionaire: here’s how Green Bay’s unique system works
Green Bay’s NFL team isn’t owned by a billionaire or a corporation. Instead, more than half a million regular people hold the keys.
When people talk about buying an NFL team, it usually means a hedge fund, oil fortune, or Silicon Valley windfall is involved. But in Green Bay, Wisconsin – population barely over 100,000 – you can own a slice of the most valuable publicly held team in American sports. And no, you don’t need a yacht or a private island to qualify.
The Green Bay Packers are the NFL’s only publicly owned franchise. Not “public” in the Wall Street sense. Public in the “my uncle bought a share at Christmas” sense. Over 537,000 people hold a total of 5.2 million shares of Packers stock, including fans from all 50 states. These aren’t investors. They’re believers.
How do you buy Packers stock?
You don’t actually pop out and buy the stock whenever you fancy, at least not right now. The Packers only offer shares during special public sales, and the most recent one wrapped up in early 2021. Back then, shares were $300 each. Around 300,000 of them were sold, raising roughly $64 million for Lambeau Field renovations and facility upgrades.
Once purchased, as detailed on the website, Packers stock doesn’t appreciate, pay dividends, or come with any resale value. It can’t be sold on the market. The only way to transfer it is to a family member or charity, and even that’s tightly controlled. Legally, it’s called “common stock,” but the fine print says everything you need to know: this is a badge of honor, not a bankable asset. Or as the financial experts call it, a “symbolic” investment.
Why the Packers stand alone in the NFL
Given what I’ve told you above, you may be somewhat surprised to learn that the NFL does not allow public ownership of teams. That’s right, the Packers are the exception. The team’s nonprofit corporate structure has been in place since 1923. When the league banned public ownership in 1960, Green Bay got a pass. Five further sales have taken place since the original one: 1935, 1950, 1997, 2011 and 2021.
Today, every other NFL franchise is controlled by private individuals or families, often billionaires or deep-pocketed investors. In 2024, the league even approved a rule letting private equity firms buy up to 10% of a team. Not in Green Bay.
Instead, the Packers are run by a board of directors and a seven-member executive committee. One of those directors, Ed Policy, is set to take over as CEO and president in July 2025, succeeding longtime leader Mark Murphy.
How do the Packers make money in such a small market?
Green Bay is by far the smallest market in major American pro sports. Yet the Packers are now worth an estimated $5.6 to $6.3 billion, depending on who you ask.
Is owning Packers stock worth it?
Whether it’s worth getting your hands on the stock sort of depends on what you’re buying. If you’re looking for a return on investment, forget it. There isn’t one.
But if you want to say you own a piece of a four-time Super Bowl champion, a franchise with 27 Hall of Famers, and a stadium that turns into a football cathedral every Sunday in winter, then it might be the best $300 you’ll ever spend. Go Cheeseheads!
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