In March 2026, Packers president and CEO Ed Policy raised concerns about the inability of his team to sell limited shares for unlimited funds. On Friday, he repeated those concerns in connection with the release of the franchise’s latest annual report.
“It’s like other teams have access to this ATM machine that we just don’t have right now,” Policy said, via the Associated Press. “We’re going to have to be more aggressive with revenue generation going forward. We all know the cost of competing in the NFL is going up, and other teams have access to capital sources that we just don’t have.”
He was specifically referring to the inability of the publicly-owned Packers to sell a minority interest for a large influx of cash.
“For example, a team can sell five to 10 percent of their equity without giving up any controlling interest in the team, and they could raise more money than we have in our capital reserve fund in just a matter of months,” Policy said.
It’s not a problem for now, but it could become one.
“I feel very good about the Packers’ financial strength and condition in the medium term and the short term, certainly,” Policy said. “But we are keeping a very close eye on some of these long-term trends, looking at how they impact us and our financial health in the long term. . . . We do have to make sure that we’re always in a position where we can continue to invest wisely in whatever it takes to field a championship-caliber team, whether that’s player costs, football staff or facilities.”
And that’s why we recently spelled out the path toward solving the problem: Dissolve Green Bay Packers Inc., sell the assets to an expansion franchise established by a traditional owner, and give the team the same structure that the other 31 franchises have.
If Policy is going to keep identifying the problem, at some point he needs to articulate a solution. Changing the overall nature of the organization is one way to do it.
And if the current shareholders don’t like that idea, there are other ways to increase revenue. With a lengthy season-ticket waiting list, there’s an obvious supply-and-demand issue in Green Bay. That issue can be addressed by charging more for tickets.
Alternatively, or additionally, the Packers could sell Personal Seat Licenses. Other teams use these money-for-nothing devices to raise revenue. With tens of thousands waiting for the ability to buy season tickets, why not implement a similar approach?
Then there’s the stadium naming rights. That’s $20 million or so per year that the Packers are choosing to not earn.
“It’s their choice to not sell naming rights,” a source from another team observed. “Or don’t trade for Micah [Parsons].”
If the Packers are going to continue to operate as a corporation that can’t raise money in the ways other teams can (and do), the Packers need to find other ways to make money. Or they need to be more careful in how they spend the money they have.
Or they need to stop being a corporation and sell the franchise to a multi-billionaire who grew up with a Cheesehead covering their scalp.
