@the-gipper said:

Here is this blurb:

The Packers stock is but one element of its unique organization. Founded in 1919 but with roots going back to the origins of American football, the team operates as a publicly held nonprofit company. NFL rules don’t allow other franchises to use the Green Bay model, and Green Bay is the smallest city hosting a major team (2010 population: 104,057).

In 1950, to save the franchise and keep it in Green Bay, shareholders—mostly residents—bought 4,700 shares at $25 each, with a limit of 200 per investor. In 1997, before the last sale, there was a 1,000-to-one stock split. The current prospectus says two shareholders own 200,000 shares each, but Popkey declined to identify them.

In addition, the Packers’ Articles of Incorporation specify that if the team is dissolved, “all profits and assets” must go to community programs and charities. Until 1997, the sole beneficiary was one American Legion post in Green Bay. Since then it has been the Green Bay Packers Foundation, which benefits a number of local and state causes.

So meager are the monetary benefits of owning Packers’ stock that Willens, the tax expert, thinks a purchase might be tax-deductible right after shares are bought. “They meet the conditions of worthless stock, in that it has no pecuniary value for the owner,” he says. “Better a small tax benefit than none at all.”

Ed Kleinbard, a former top tax staffer in Congress who’s now a professor at USC’s law school, is an Oakland Raiders fan but he disagrees about the tax deduction. “The stock isn’t worthless as long as someone will buy it, although I wouldn’t,” he says. “Maybe it’s a collectible.”

We'd have to dig up how many shares are outstanding. If it's 5 million and the Packers are worth a billion, each share would be worth $20. Not exactly a penny stock.

@diehardbrownsfan said:

Not growing up in the Kenmore section of Akron, not, he is no Illuminati.

@orion said:

What, like I didn't live through it?

Don’t act like Art Modell was excluded from receiving a stadium when the city of Cleveland was passing them out...he declined.

He wasn’t the sharpest knife in the drawer.

BTW, I lived through it too.

@canton-dawg said:

This isn't true, you may want to do some research into that statement.

What, like I didn't live through it?

The Packers stock is but one element of its unique organization. Founded in 1919 but with roots going back to the origins of American football, the team operates as a publicly held nonprofit company. NFL rules don’t allow other franchises to use the Green Bay model, and Green Bay is the smallest city hosting a major team (2010 population: 104,057).

In 1950, to save the franchise and keep it in Green Bay, shareholders—mostly residents—bought 4,700 shares at $25 each, with a limit of 200 per investor. In 1997, before the last sale, there was a 1,000-to-one stock split. The current prospectus says two shareholders own 200,000 shares each, but Popkey declined to identify them.

In addition, the Packers’ Articles of Incorporation specify that if the team is dissolved, “all profits and assets” must go to community programs and charities. Until 1997, the sole beneficiary was one American Legion post in Green Bay. Since then it has been the Green Bay Packers Foundation, which benefits a number of local and state causes.

So meager are the monetary benefits of owning Packers’ stock that Willens, the tax expert, thinks a purchase might be tax-deductible right after shares are bought. “They meet the conditions of worthless stock, in that it has no pecuniary value for the owner,” he says. “Better a small tax benefit than none at all.”

Ed Kleinbard, a former top tax staffer in Congress who’s now a professor at USC’s law school, is an Oakland Raiders fan but he disagrees about the tax deduction. “The stock isn’t worthless as long as someone will buy it, although I wouldn’t,” he says. “Maybe it’s a collectible.”

@hoorta said:

They'd have to be very wealthy Packer shareholders Gip.  IIRC most GB fans only own a share (or two) and have them proudly framed on the wall. LOL, you bad at math? 1% of $600 million is still $6 million. BTW, that was an old article, Forbes put the current value of the Ravens at $1.9 billion. So make that $19 million for the Modell family. I could live on that fer sure.  

OK....so, maybe you know this:   How many shares of Green Bay Packer stock have been issued to the people of Green Bay......and what would each stock certificate be valued at?

@the-gipper said:

So, the Modell family owns about as much of the Ravens as any citizen of Green Bay owns of the Packers.

They'd have to be very wealthy Packer shareholders Gip.  IIRC most GB fans only own a share (or two) and have them proudly framed on the wall. LOL, you bad at math? 1% of $600 million is still $6 million. BTW, that was an old article, Forbes put the current value of the Ravens at $1.9 billion. So make that $19 million for the Modell family. I could live on that fer sure.  

Super Bowl XXXVEdit

In 2000, the Ravens, under the coaching of Billick, qualified for the postseason for the first time, winning the AFC Wild-Card position with a 12–4 record. (Tennessee won their division that year.) Led by a stingy defense anchored by team captain and NFL All-Pro middle linebacker Ray Lewis, and quarterbacked by former Pro-Bowler Trent Dilfer, they would go on to defeat the NFC Champion New York Giants in the Super Bowl, 34–7. Shortly after the Super Bowl XXXV victory, Modell handed the reins of the day-to-day operations of the team over to his son, David. The Ravens qualified again for the postseason in 2001 as defending Super Bowl Champions, and once more in 2003, winning their first division title. The Ravens' regular season record during Modell's tenure as team owner stands at 72–63.

Community involvement in Baltimore areaEdit

Modell and his wife, former television actress Patricia Breslin, donated millions of dollars to a variety of charities, most notably the SEED School, a boarding school being developed in Baltimore for disadvantaged youth; Johns Hopkins Hospital; Kennedy Krieger Institute; St. Vincent's Center, a home for abused children; and the House of Ruth, a domestic violence center. Modell received the Generous Heart Award from the Dr. Ben Carson Scholarship Foundation, given annually for excellence in the community.

Ravens sold to minority owner BisciottiEdit

Despite a no-cost stadium lease, all revenues from parking, concessions, and TV, as well as a reported $25M per year Maryland subsidy, Modell's ownership of the Ravens resulted in continual financial hardships for the team. In late 2002 the NFL took an unusual step and directed Modell to sell his franchise, and in 2003, Modell sold the Ravens to minority owner, Maryland businessman Steve Bisciotti. Under the deal, Modell retained a small interest (approximately 1% share) upon the team's sale as a legal maneuver to avoid a claim by the Andrews trust, which was controlled by family of a former business adviser who sought to collect an estimated $30 million finder's fee upon Modell's sale of the team. The Andrews trust essentially claimed that under a 1963 agreement, Modell owed a finder's fee for his original purchase of the team which was to be paid when Modell sold his entire interest. In July 2005, Modell prevailed in court and defeated the Andrews trust's claim. At the time of sale the franchise's worth was estimated at approximately US$600 million.<-----and other tax ramifications! 

Soon after Modell moved the franchise to Baltimore in 1996, he had sold a small minority interest to Bisciotti. After owning the NFL franchise for 44 seasons, Modell sold controlling interest of the team to Bisciotti, citing ill health. However, Bisciotti had the option to buy the team fully in right (approximately 99%) until March 2004, this upon becoming a minority owner (about 45%) outright in 1999. Bisciotti exercised his purchase option in January 2004. Modell retained his 1% share and an office at the Ravens' headquarters in Owings Mills, Maryland as a team consultant.^[10]

@the-gipper said:

And now both are dead.  

Did the Modell family retain its like 1% interest in the Ravens?

Too many double Coronas for David. AFAIK, yes the Model family still retains a token percentage of the Ravens.

Regarding "Great Man" Art, you knew that it was just a matter of time before someone would have the chutzpah to piss on his grave and post it to YouTube. I'll bet it's been many more times without being publicized. Said when he died the family should have had him cremated.

@orion said:

But the city gave Elvis, the Cav's and the Tribe a new stadium....none for him.  So he left (which is, of course, unforgivable).  The city was then told by the league, "If you wanna team, then build a new stadium".    So they DID!   Isn't the stadium great?!  No?!  

This isn't true, you may want to do some research into that statement.

@hoorta said:

And he was schmucking broke. and even with the $75 million bribe, (that Cleveland couldn't offer him to stay) he was forced to sell out because he couldn't even make interest payment on all the loans he had taken out. 

His honorable path would have been to sell out to Al Lerner, but nope, he wanted to keep being a Big Shot owner, and pass the team down to his kid. In the end, Art got exactly what he deserved. 

And now both are dead.  

Did the Modell family retain its like 1% interest in the Ravens?

@hoorta said:

And he was schmucking broke. and even with the $75 million bribe, (that Cleveland couldn't offer him to stay) he was forced to sell out because he couldn't even make interest payment on all the loans he had taken out. 

His honorable path would have been to sell out to Al Lerner, but nope, he wanted to keep being a Big Shot owner, and pass the team down to his kid. In the end, Art got exactly what he deserved. 

And without looking anything else up he paid about  $4 million for the BROWNS. 

This was fundamentally about FEDERAL ESTATE TAXES....

QUESTION : how could/would the Artful Tax Dodger pass the BROWNS down to his family now being worth hundreds of millions of dollars. 

ANSWER: A big sweetheart cash deal worth millions.

How sad for the people of Cleveland, Ohio.

@the-gipper said:

The plans were a new stadium was already in place. model left because he wanted the Shmucking 75 million Shmucking dollars he was being bribed to go to Shmucking Baltimore plain simple and if you don't understand that you're stupid

And he was schmucking broke. and even with the $75 million bribe, (that Cleveland couldn't offer him to stay) he was forced to sell out because he couldn't even make interest payment on all the loans he had taken out. 

His honorable path would have been to sell out to Al Lerner, but nope, he wanted to keep being a Big Shot owner, and pass the team down to his kid. In the end, Art got exactly what he deserved. 

@diehardbrownsfan said:

Cavs are going to really suck this coming year.  Bank it.

@the-gipper said:

Not as badly as you will  suck as a poster on this board, however 

Gip- the Cavs are almost going to be forced to tank.  Reason? Take it to the bank they want to keep their protected 2019 draft pick. Which they only get to keep if they're in the bottom 10, otherwise it goes to Atlanta as part of the Kyle Korver deal. 

They'll unload salary too, so don't be surprised if Love gets traded.   

Modell still tops LeBron though. It was long reported this time around the odds of him staying in Cleveland were remote. He's still good enough to get the Lakers to the playoffs, but his quest to play in another final anytime soon is out the window. No way in hell can the Lakers as currently constituted beat the Warriors, and probably not Houston or OKC either. Plus James will turn 34 the end of 2018, and you have to wonder how many years of top level performance he has left.   Wonder if he'll stick around long enough to take a shot at Kareem's points record. He's around 7,200 behind, and he'll need at least 4 years at his current production to catch him. 

Another thing going to the Lakers- unless he wins a Championship or two, he'll always be in the shadow of Magic and Kobe.  

@orion said:

This is the underlying truth.

The Browns had the worst friggin' stadium.  The league made the Browns use the visitors locker room because it was too small for an NFL team to have to use.  He may not always have been the greatest business man.  But the city gave Elvis, the Cav's and the Tribe a new stadium....none for him.  So he left (which is, of course, unforgivable).  The city was then told by the league, "If you wanna team, then build a new stadium".    So they DID!   Isn't the stadium great?!  No?!  

The plans were a new stadium was already in place. model left because he wanted the Shmucking 75 million Shmucking dollars he was being bribed to go to Shmucking Baltimore plain simple and if you don't understand that you're stupid

@ghoolie said:

Paul Brown? WTF does he have to do with this schidt?

Paul Browns would have been fired by everyone here. Art, the owner gets off of a plan, and is dumbfounded by reporters asking him his reasoning for trading Bobby Mitchel to get after Ernie Davis. That kind of insubordination gets you fired no matter who you are. The reality is, people hate Modell so no matter WTF PB did, people here will defend it. There is no objectivity here.

Jim Brown.................. not Art Modell.................. JIM BROWN was responsible for getting Paul Brown fired. Jim did not want Ernie Davis in the backfield. From that moment on, JB was against PB. PB did it to himself. Fukc Paul Brown, he spent more time as a Bengal than he did a Brown. Fukc him and Fukc his Bengals.................

INCIDENTALLY........................................................ If it wasn't for Art Modell............. PB would not have had the money or position to be awarded the Bengals. THAT WAS ALL MODELL.

Modell was a great man. He was a great owner and he loved the Browns. The city of Cleveland lost their fukcing team, that isn't on Modell. Cleveland is the land of the dumbest fukctards on Earth.

What does Modell have in common with LeBron? Without them, there is no winning in Cleveland.

Art Modell was a great man.

The only words that can be taken from this post are that there are some of the dumbest Shmuck Tarde's on earth posting on this board Gooley among the prime exhibitThe only words that can be taken from this post are that there are some of the dumbest Shmuck Tarde's on earth posting on this board Gooley among the prime exhibit

@ghoolie said:

The city of Cleveland lost their fukcing team, that isn't on Modell.

This is the underlying truth.

The Browns had the worst friggin' stadium.  The league made the Browns use the visitors locker room because it was too small for an NFL team to have to use.  He may not always have been the greatest business man.  But the city gave Elvis, the Cav's and the Tribe a new stadium....none for him.  So he left (which is, of course, unforgivable).  The city was then told by the league, "If you wanna team, then build a new stadium".    So they DID!   Isn't the stadium great?!  No?!  

Paul Browns would have been fired by everyone here. Art, the owner gets off of a plan, and is dumbfounded by reporters asking him his reasoning for trading Bobby Mitchel to get after Ernie Davis. That kind of insubordination gets you fired no matter who you are. The reality is, people hate Modell so no matter WTF PB did, people here will defend it. There is no objectivity here.

Jim Brown.................. not Art Modell.................. JIM BROWN was responsible for getting Paul Brown fired. Jim did not want Ernie Davis in the backfield. From that moment on, JB was against PB. PB did it to himself. Fukc Paul Brown, he spent more time as a Bengal than he did a Brown. Fukc him and Fukc his Bengals.................

INCIDENTALLY........................................................ If it wasn't for Art Modell............. PB would not have had the money or position to be awarded the Bengals. THAT WAS ALL MODELL.

Modell was a great man. He was a great owner and he loved the Browns. The city of Cleveland lost their fukcing team, that isn't on Modell. Cleveland is the land of the dumbest fukctards on Earth.

What does Modell have in common with LeBron? Without them, there is no winning in Cleveland.

Art Modell was a great man.