Maybe this is just a scatter brained Idea. It wouldn't be my first one and it sure as heck wouldn't be my last.
Maybe this has been thought of already, at least the Green Bay Packers have already.
This is quoted from Answers.com, so I don't know how credible this is.
"Green Bay Packers stock is not stock that you can just buy. It is offered by the Green Bay Packers, and sale of stock has to be approved by the existing shareholders. The last time stock was offered for sale was 1997-1998 for $200 per share to raise funds for improving Lambeau Field. The sale raised more than $24 million, about 1/3 of that in the first 11 days of the offering.
People who own shares of of GBP stock cannot be sold to others--it can only be sold back to the team. The stock doesn't appreciate in value, no dividends are paid, and there are no season ticket privileges. However, the stock certificate is really cool, and you can proudly say you own part of a professional football team!"
My immediate thought was;
"Why can't the Chargers do this?"
If you have an answer, please comment.
From what I have read, I believe the Charger were looking at $600 million to build a new Downtown Stadium, with the Chargers looking for $400 million from the public.
Again, if you have the complete details, please correct me.
My idea is:
-The Chargers should sell stock at $1000 per share(which is close to the price of a decent season ticket,) that can only be sold back to the team, with no voting privileges. Stock can only be sold back at the discretion of the Chargers
- The share holder(s) would not only receive a certificate, but yearly dividends in the form of:
a)a shareholder ID card that gets you 25% off on all concession in the new stadium and the team store.
b)a gift card worth $40 at the team store.
- To ensure that this will work, the Chargers will match the money raised with the sale of the stock sold up to $200 million. Not including money from the NFL's G3 loan.
- $100 million from the G3 loan(pending CBA)
-$100 million from public funds.
This is the ultimate way for the Fans and Spanos Family to say to each other, "Put your money where your mouth is."It proves we want the team. It proves the wants to be in SD. It makes it easier for voters to vote the space and the funding. It's a great PR move. It connects the Chargers and their fans together more than ever.
I welcome all comments and please vote.
28 votes total
This FanPost was written by a member of the Bolts From The Blue community and does not necessarily reflect the views of the Bolts From The Blue editors or SB Nation.