Packers Have Ton of Savings in Case of Doomsday NFL Season Scenario
The Green Bay Packers have always been a unique franchise as there is no one single owner running the show. The team has shareholders and operate like a publicly traded business.
That allows the Packers to operate differently than other traditional professional sports franchises. One wise move the organization has done is to create a savings fund in case of a scenario as to what we are seeing in 2020 with coronavirus-related shutdowns. The Packers reportedly have a fortune in savings for this exact scenario.
Packers have $385M in savings to help, if needed https://t.co/yX1ipKBRU1
— Rob Demovsky (@RobDemovsky) May 14, 2020
Having $385 million in savings is a smart act of foresight by a professional sports franchise. So often we hear of owners claiming they are losing money or recently that they have to cut pay during the shutdowns. The Packers came prepared and set this large fortune aside just in case.
Why can’t America have more “businesses” like the Packers?
— J Isaiah Bailey (@jIsaiah_) May 15, 2020
“...without a single deep-pockets owner, long ago established the savings account specifically to ensure the team could cover expenses for one year in case... revenue dried up.”https://t.co/9hxibUIyl8
This allows the business to continue operating as normal and prevents a situation where the Packers have to let go of employees or make serious changes to the business side of the organization. Packers fans will cite this as another reason why all teams should follow their unique model of ownership.