... aren't owned by the people in the cities that they SUPPOSEDLY represent.
I think Green Bay is the only team with publicly-owned shares in their team.
Yep, it's still that way...
https://huddleup.substack.com/p/green-bay-packers-local-revenue-declines
The Green Bay Packers pride themselves on being the only publicly-owned, not-for-profit, major league professional team in the United States.
Rather than having a single wealthy owner, or multiple partners, the Packers are owned by fans — 360,760 shareholders owning a total of 5,011,558 shares, to be exact. The “articles of incorporation” also prohibit any person from owning more than 200,000 shares, ensuring that no individual can take control of the team.
Meanwhile, the Cincinnati Bengals are owned by a guy more concerned about gaining a larger ownership share in the team than winning games. (After Paul Brown was so paranoid that his family would lose control of the team, like what happened to him with the Cleveland Browns.) And it's local taxpayers who buy the stadiums! What a great deal for Mike Brown, but a crock of crap for the locals!
Oh, well... it was hard for me to keep following the Bengals and the NFL after their group-rape case in Seattle back in 1992. And like karma for that horrible incident, they've never won a playoff game since about the time that happened.
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