So the Packers are selling shares of stock for $250 per share! Become an NFL owner for $250! Pretty sweet deal right? No, well not unless you enjoy giving up money for nothing. Oh and not to mention being tricked into thinking your something your not.
I’m sure I’ll catch some flack for this (secret: I don’t care) since most people are under the spell the Packers have cast as a publicly owned company. I want to be up front, I agree with all of you, I love the idea of it all. If only it were true, it’s not though, it’s a sham. Sorry Packers fans, I have nothing against your franchise, other than this whole stock sale BS.
Publicly owned non-profit company, before I attack the Packers operation I want to say that I am not denying the fact that there are many of these companies that do great things for our country. I am not against these companies as a whole. But think about this, when you buy stock your supposed to at least have the chance to make money, right? You supposed to be able to sell off your shares at the current trading price, correct? Well what if I told you, without telling you it was the Green Bay Packers, that I had invested in a company who’s stock value has no value, that I can’t resell and give me nothing real at all. You would absolutely be puzzled, no one in the world can deny that your reaction would include the words w and t and f. No doubt about it.
The Packers have been a publicly owned nonprofit corporation since 1923. The team held its first stock sale that year, followed by sales in 1935 and 1950 that helped keep the franchise afloat even as other small-markets teams were sinking. In the new generation of bigger better stadiums the team is putting up it’s second stock sale in the last 14 years. Instead of getting a new stadium, Green Bay is pumping out another set of their fake stocks to pay for renovations of Lambeau Field. Genius, if your them, you get to upgrade the stadium, keep the historic lure of Lambeau and not pay for it.
Again, publicly owned company is supposed to mean that the public owns something and can profit off of it. While they are a unique organization, don’t fool yourselves, the coaches, front office executives, board of directors and of course the players are getting crazy rich. Trick is they just don’t have to really pay for their operational costs, again genius if your them, stupid if your not.
The obvious argument to my statements here are “Matt these companies exist and it’s perfectly legal”. Duh, I know that, thanks for sharing. The difference, the spirit of these types of companies tax protections are that they greatly benefit the community and act as a non profit organization. The Packers do that simply because they pump money into the community. When your donating to another non profit organization it’s called a donation, not a stock sale.
This is the Green Bay Packers coming out and getting donations for $250 each for probably a certificate or something along with sham “voting” rights, whatever. Once more, genius, I want to start a company that does exactly this. Wait….. Niner Noise community, become a NN owner for $250, send it directly to me, tweet me for my paypal information. I’ll send you an email confirming you as a “owner” of the site and that’s where it ends. You can vote on our weekly polls though! Now hurry I need to get rich. Now imagine if the Packers stock sale never happened and I came out with a post asking for that. Don’t kid yourself you would click off this site immediately. Get the point here?
I can’t fault the Packers, this is drum roll….genius! How hard would you laugh if you got 250,000 people to send you $250 for nothing? Don’t let the Packers fool you this Christmas season.
Oh yeah don’t forget to tweet me about my paypal information: