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Events That Helped To Stablize The Packers Financially, 1922-66
A.B. Turnbull's actions, 1922-23 -- When rain threatened to keep fans away, bankrupt Packers, Turnbull told Lambeau and George Calhoun to play their games and that he'd bail them out of debt. Turnbull then organized local investors, turned team into non-profit organziation in 1923, and raised $1,000 in team's first stock drive.
Court decision to appoint receiver, 1935 -- After fan who fell from City Stadium bleachers sued Packers, team petitioned for friendly receiver, while litigation ran its course. Henry Graass, circuit court judge and Packers fan, appointed local accountant Frank Jonet as receiver. Despite Great Depression, Packers prospered during receivership (1934-37), thanks in part to growing popularity of NFL.
Second stock drive, 1935 -- President Lee Joannes raises $15,000 in "Save the Packers" stock drive, getting donations from fire fighters, policemen, high school students, housewives, civic leaders and other citizens.
Joe Carr's sending Don Hutson to Green Bay, 1935 -- College star signed two contracts, including one with Brooklyn football Dodgers. League President Joe Carr awarded Hutson to Packers because team's contract was postmarked earlier. Hutson, pivotal in timely 1936 world championship and greatest player in Green Bay history, helped team to climb out of court receivership.
NFL's installation of college draft, 1936 -- Kept small-market teams such as Packers competitive with big-city opponents.
Lee Joannes donation, 1937 -- Packers president paid $6,000 to settle case of fan who fell from stands in 1934, then convinced court to end receivership period.
Decision to play games in Milwaukee, 1933 -- Allowed Packers to tap larger market. As a result, the Packers now have one of the largest territories in sports (the NFL has traditionally given teams only 75-mile radius). By playing in both Green Bay and Milwaukee (1939-94), Packers thwarted any efforts to establish another competing pro football team there.
Decision to invest in war bonds, 1940s -- Money in reserve carried team despite losses of at least $25,000 in 1943 alone, as World War II depleted rosters.
Intrasquad game, Thanksgiving, 1949 -- Packers brought old-timers back, drawing 15,000 to City Stadium, earning $50,000.
Third stock drive, 1950--After Lambeau's departure, team raised nearly $118,000.
Bert Bell's push for league-wide TV package, 1950s -- With help from Congress, commissioner laid groundwork for CBS-TV deal that allowed all teams, large market and small market, to share revenue, eventually in place by the 1961 season. In 1966, Pete Rozelle signed first NFL TV package, with CBS and NBC, giving Packers more than $1 million (which allowed Vince Lombardi to sign Donny Anderson to the team's first long-term contract).
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