From Fan to Owner: The Packers Create Community Through Stocks

What is a piece of paper worth to you? Maybe a few cents, right? To Packers fans, a 2.5 cent sheet of paper was worth $250! Of course, this sheet of paper recognizes the individual or a group of individuals as shareholder in the team. This has to get them special treatment on season tickets or something, right? Nope. As Darren Rovell noted, "The shares haven't been approved by the SEC, don't appreciate and won't move you up the season ticket waiting list." So, why would 250,000 people buy 268,000 shares in the team? To be a part of a community.

Based on the size of the investment, we can assume that the individuals who bought shares of the Packers are lifelong fans of the team and tie part of their identity to the team. In this respect, the fans gain emotionally from their monetary "investment" in the team and from their fandom as they gain a sense of fulfillment or eustress desire by supporting improvements of their team. And, since they are a shareholder, their pride and devotion to the team also bolsters their self-esteem. This illustrates the point that individuals can gain from their emotional attachments to teams.

The Packer shareholders also gain by being a part of an "exclusive" group and one that supports a unique organizational structure. The Packers rhetoric surrounding the stock sale encouraged stockholders to view themselves as community minded individuals who helped the small market team thrive against the rich teams in the NFL or goliaths in cultural mythology: 

Green Bay Packers, Inc., has been a publicly owned, nonprofit corporation since Aug. 18, 1923, when original articles of incorporation were filed with Wisconsin’s secretary of state. One of the more remarkable business stories in American history, the Green Bay Packers organization has been kept viable by its shareholders — its unselfish fans. Even more incredible, the Packers have survived during the current era, permeated by free agency and the NFL salary cap.

The answer, then, to the question of why an individual would "invest" $250 in a sheet of paper that will never appreciate or provide you of individual gain is that it provides fans to shift from mere fans to a particular group which can go to shareholder meetings and feel as if they have an influence over their favorite team. In this respect, the decision to buy a share in the Packers classifies as a behavioral motivation. Instead, it is a move by an organization to increase the identification between their team and their fans. And, it allows the Packers to applaud their fans as a special group. The Packers President/CEO Mark Murphy stated following the sale, "It’s a tribute to the organization, the support of our fans, and the uniqueness of the Packers. I think that really appeals to people. You can’t say enough about how appreciative we are for the support."

Those who invest in the team can feel an sense of achievement and social connection to the Packers with each win. The Packers are glad that being a shareholder can make a fan feel connected to the team. Mark Murphy touted the achievement and social connection shareholders should feel toward the team following their purchase: "Our fans are much more loyal and have a stronger bond with the organization because of our ownership structure. To triple the number of shareholders, giving that many more fans a tie to the Packers, it really bodes well for the future in terms of the support we’re going to have in the years ahead.” But how special is that community when it grows so quickly? Will the "uniqueness" wear off? I guess we will all find out during the next stock sale in 10 to 15 years. New shareholder Chris Silver, though, will be savoring his connection that the piece of stock gives him and his fellow shareholders: "[S]afe on the sidelines and in our armchairs, we Packer owners can imagine we have a deeper, more socioeconomic connection with our team than other fans with theirs." And, isn't that connection to a community all each of us fans want when we cheer our team on to victory?