Lambeau Field and The Green Bay Packers
The Green Bay Packers are unlike any other in the NFL in the structure of their team. The Packers are the only NFL team to not have an owner. The owners of all the other clubs lose revenue to their owners because they are for profit, and the owner takes some of the revenue. Since the Green Bay Packers are owned by the people, all of the revenue that is made from the football games is reinvested into the club. The Packers are a non-profit organization, because all of the profits are put right back into the club.
Originally the Packers team started in the 1920s when the Green Bay Football Corporation made a series of public stock offerings. The team played at the East Stadium, which is commonly known as the Old City Stadium until 1952. At the end of the 1952 season, the Packers played a few games at the new Milwaukee County Stadium. The stadium was also being used as a home to the Milwaukee Brewers in Major League Baseball. The Milwaukee County Stadium was being used by both the MLB and NFL, and this was benefiting the stadium. So the NFL threatened the Packers that if they didn’t build a new stadium, then they would play permanently at the Milwaukee County Stadium. Green Bay had to replace the East (old city) Stadium because it only sat 25,000 people, and in order to accommodate more people the NFL made them construct a new stadium. The total cost of the new stadium was 960,000 dollars, and it only took one year for construction to be complete.
In order to finance the new stadium, there were public stock offerings that were given to the general public. The general public consisted of the local residents in the area. The Packers needed to raise more than $100,000 to avoid insolvency. Co-founder Curly Lambeau who had been coach since 1919, found four men willing to invest $50,000 each, if the team would become a profit-making venture. The board refused the offer, and instead the board chose to authorize 10,000...
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