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Special Teams
John Steinbreder
September 13, 1993
Franchises owned by corporations, consortiums and other groups
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September 13, 1993

Special Teams

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Franchises owned by corporations, consortiums and other groups

Boston Celtics
A publicly traded franchise; listed on the New York Stock Exchange. A significant portion (60%) of the stock is owned by three men—Alan Cohen, Don Gaston and Paul Dupee—who bought the team in 1983 for $19 million. In '86 they sold some 40% of the team to the public at $19.50 per share, raising $48 million and retaining control. As of Aug. 27 the stock price was $18.75.

Chicago Cubs
Owned by the Tribune Co., a Chicago-based media and entertainment company (superstation WGN-TV, the Chicago Tribune).

Denver Nuggets
Owned by Comsat Denver Inc. Purchased 62.5% of the Nuggets in 1989; bought the rest three years later when the minority partners were struggling financially.

Green Bay Packers
A community-owned, nonprofit corporation. A total of 4,627 shares held by 1,862 shareholders, none of whom receives dividends. Shares are not traded publicly—they can only be transferred, not sold, among relatives—and therefore have no market value. When offered initially, in 1950, they sold for $25 apiece.

Kansas City Royals
Currently owned by the irrevocable trust of the late Ewing Kauffman, who died on Aug. 2. Cotrustees are his widow, Muriel, and Mike Herman, chief financial officer of the Ewing Kauffman Trust. At Kauffman's behest, every effort will be made to keep the team in Kansas City.

The Mighty Ducks of Anaheim
Owned entirely by the Walt Disney Co. The Ducks, one of the NHL's two new franchises, debut in October at an Anaheim arena dubbed The Pond by Disney CEO Michael Eisner.

Montreal Canadiens
Owned by the Molson Companies. Company chairman Eric Molson often attends games with his 86-year-old uncle, Hartland; they sit in a family box directly behind the Canadien bench.

New York Knicks, New York Rangers
Owned by Paramount Communications, once known as Gulf + Western, which also owns Madison Square Garden, where the two teams play.

Pittsburgh Pirates
Seven Pittsburgh-area organizations (including Alcoa and Carnegie-Mellon University) and three businessmen (Gene Litman of Pittsburgh; John McConnell of Columbus, Ohio; and Harvey Walken of Chicago) own equal shares.

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