The quest for durable IP is leading more moguls to plunk down cash for pro teams — and there are more opportunities to do so now than in decades.
One hundred years ago, in August 1923, the Green Bay Packers football club was formed in a public stock sale.
The Packers sold 1,000 shares at $5 apiece, raising $5,000 . The team has held five stock sales since then, in 1935, 1950, 1997, 2011 and 2021, but despite raising tens of millions of dollars, the Packers’ unusual structure has a big asterisk: The team is a publicly owned nonprofit corporation, and the stock? It cannot be resold, traded or returned to the team.
While the Packers paved the way for the public to own a piece of a sports team , in recent decades sports has mostly remained an investment for the ultrarich. With most major sports teams now worth billions of dollars, very few entire leagues for sale, and the value of media rights deals exploding, there is big money at stake.
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