As you may or may not know, the Green Bay Packers are a community-run team owned by Green Bay Packers Inc. rather than an individual. So in order to raise significant funds, the team has to sell shares of the franchise – and is doing so again this year.
This Tuesday the Packers will be offering 300,000 shares of the club at $300 per share. But this isn’t the kind of ownership share you can buy in the stock market.
The Packers shares do not give the owners a seat at the table in organization meetings. Nor do they appreciate/depreciate in value as stock shares on a traded market do. They are effectively a piece of paper with a certificate of authenticity – like any piece of sports memorabilia.
While some NFL fans – even former U.S. President Barack Obama – have joked about owning the Packers by doing this in the past, others aren’t amused. Many are taking to Twitter and effectively rolling their eyes at what they see as a scam from the team on par with NFTs:
“Stock” lol. This is like buying land on the moon or Mars. You get a certificate to show off to friends. https://t.co/FI56TJNyCH
— Young Atlas (@thatbigboi_D) November 15, 2021
Packers ownership is like owning a Doge coin. At the end of the day it’s all fake. https://t.co/ktJaPbeQCM
— Scott 🦦🚀 (@ChinchillingCHI) November 15, 2021
I begrudgingly respect the Packers for not selling NFTs or some shit. I mean, they’re both worthless, but at least they’re upfront about their scam. https://t.co/Tu0zgjz0hx
— Jimmy Jump (@Jokediggy) November 15, 2021
Biggest (most successful) gimmick in all of football.
— Brett Mair (@BrettMair) November 15, 2021
its $300 for a piece of paper
— Ryan Brennan (@TheRyan_Brennan) November 15, 2021
While the Green Bay Packers shares may ultimately boil down to being a piece of paper, to some fans it’s more than that.
We’ve certainly seen people pay a lot more for pieces of memorabilia that are a lot more dubious in value.
If some Packers fans want in on the “scam” as some people are calling it, let them so long as they don’t have any false notions.
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