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Green Bay Packers Foundation:

Discussion in 'Video Highlights' started by vyshukiran, Mar 18, 2010.

  1. vyshukiran

    vyshukiran Guest

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    The Green Bay Packers were founded on August 11, 1919 by former high-school football rivals Earl "Curly" Lambeau and George Whitney Calhoun.The team created the Green Bay Packers Foundation in December 1986. The foundation assists in a wide variety of activities and programs that benefit education, civic affairs, health services, human services and youth-related programs.

    At the team's 1999 annual stockholders meeting, it was voted to make the foundation the recipient of any remaining assets if the team were to be sold or dissolved. In 1923, the Packers were incorporated in Wisconsin as a nonprofit corporation, with stipulations that if the Packers were sold, all assets would be transferred to the Sullivan-Wallen Post of the American Legion in order to build a "proper soldiers memorial." No shareholder can own more than 200,000 shares in the company. This has put the Packers in a unique situation, as it would be impossible to move the team from Wisconsin. In turn, the franchise has remained in the tiny market of Green Bay.

    Lambeau solicited funds for uniforms from his employer, the Indian Packing Company. He was given $500 for uniforms and equipment, on the condition that the team be named for its sponsor. Today "Green Bay Packers" is the oldest team-name still in use in the NFL, both by its nickname and by virtue of remaining in its original city.

    On August 27, 1921, the Packers were granted a franchise in the new national pro football league that had been formed the previous year. Financial troubles plagued the team and the franchise was forfeited within the year, before Lambeau found new financial backers and regained the franchise the next year. These backers, known as the "Hungry Five," formed the Green Bay Football Corporation
     

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