Green Bay Packers Stock Sale Should Be a Model for Stadium Funding

The Green Bay Packers are setting a precedence for stadium funding that should be emulated by all teams.

This is a unique team, in a unique situation, but that doesn't have to preclude others from doing something similar.

The Plan

The Packers have launched their fifth stock sale in the 92-year history of this publicly owned team. The shares cost $250, and the revenue is going towards the $143 million expansion of Lambeau Field in Green Bay.

There are 250,000 shares up for grabs.

Effectiveness of Plan

The plan got off to a running start. Shares were flying like Tim Tebow-shaped hot cakes.

Packers CEO Mark Murphy was quoted by David Bailey and Brendan O'Brien on Reuters.com as saying, "1,600 shares were sold in the first 11 minutes of the offering."

If the team sells all of the allotted shares, and with that start you have to like their chances, they will raise $62.5 million. That is almost 44 percent of the total.

The Beauty and Fairness of This Plan

This plan allows fans to willingly shoulder part of the financial burden for the stadium their team plays in.

New stadiums, and renovations to existing stadiums, are largely paid for by tax payers. This often leads to contentious ballot proposals and jaded fans. In this instance, almost half of the funds are being paid for by people that feel honored and proud to do so.

This limits the amount of financial obligations to be shouldered by others. It also builds a sense of community and ingrains the franchise into the fabric of the town.

Feasibility of Others Adopting Plan

The Packers are in a unique position. They are the only publicly owned sports franchise in the country. That does not mean that other teams couldn't take a similar approach though.

The owners of this stock earn voting rights, but that is it. There is no chance of profit, no inside edge on season tickets and not even transfer rights.

As the Packers CEO said, in Bailey and O'Brien's report:

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First and foremost, it is a way for them to support and help the team, and it does give them significant bragging rights.

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Every team can offer something similar to that. They could sell commemorative plaques, stuffed animals, Tebow-shaped hot cakes or whatever else they could think of for people to have a symbol representing their involvement with their favorite team.

They could offer special packages to businesses at a larger donation rate. This could be as simple as allowing a business to use a special decal saying they support the community and the team. 

Owners could then go one step further by saying they would match the total dollars raised by the public. This would not only lighten the load for any amount that would have to be raised by taxes, but it would also endear a franchise to a community, while giving the perception that owners are operating in good faith to keep teams in their respective cities.

All of this would make any tax initiative more likely to pass. And if the efforts fail, then fans would be guaranteed their money back. 

This is a win-win situation.