BACKERS CITE PACKERS OWNERSHIP MODEL.Byline: Daily News Staff and Wire Services When the concept of public ownership of the Dodgers comes up, so does the case of the Green Bay Packers, the only publicly owned Publicly owned can refer to:
Please [ improve this article] or discuss the issue on the talk page. franchise. The team, which plays the New England Patriots  Editing of this page by unregistered or newly registered users is currently disabled until (UTC) due to vandalism. on Jan. 26 in the Super Bowl, is a not-for-profit corporation owned by 1,915 stockholders, none with a majority control of the 4,634 shares of stock issued in 1950. As such, the Packers are likely to remain in Green Bay forever. Under current bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an , the team must be dissolved rather than change hands. Should the team run into financial difficulties and fold, the bylaws make an American Legion American Legion, national association of male and female war veterans, founded (1919) in Paris. Membership is open to veterans of World Wars I and II, the Korean War, and the Vietnam War. post the beneficiary. The post reportedly would build a war memorial with any remaining money. ``It ends here,'' Robert Harlan, the team's chief executive officer, told the Associated Press. ``Stockholders get no dividends, no interest, no benefits. If someone wants to sell their stock back, we would send them a check for $25 (per share). There can never be a situation like this again.'' The Packers, estimated to be worth $166 million in 1995, have sold out every home game since 1960. They have a waiting list of about 30,000 for season tickets. About 10 tickets have become available the past two seasons. The team has an estimated $21 million in reserves. However, Harlan said the team - in the 75th largest market - would cease to exist without the NFL's policy of revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. . The Packers, founded in 1922, are run by a seven-member executive committee elected from a 45-person board of directors. |
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