Partial ownership for Manning

[NY8123]

It is illegal for a player to have owwnership in a team per the NFL Franchise bylaws, under Article IX: "No player, coach, or manager shall, indirectly or directly, own stock or have any financial interest in the ownership or earnings of any member club of the League". End of rumor.

But that isn't all it says, you truncated the text:

No player, coach or manager shall, directly or indirectly, own stock or have fanatical interest in the ownership of earnings of any member club of the league, other than in the member club with whom he is employed, and then only under agreement approved by the Executive Committee stipulating for the immediate sale (and the terms thereof) of such stock or fanatical interest therein in the event of his transfer to, employment by, or manager financially interested in another member club of any other member while, in the opinion of the Executive Committee, such interest is retained by or for him directly or indirectly.

If you boil that down there is nothing stopping a player from owning stock in the team he plays for they just can not own interest in any other NFL club besides the one they play for.

 

[NY8123]

Actually, I should have read that Article further....it says it is possible to have a financial interest in only the team that you are employed by if approved by the NFL Executive Committee. So I stand correct, it may be possible for Manning to have a finanical interest in a team.

I would thank you if the function was allowed. I was replying when you posted your correction! :up:

 

[vagrantprodigy]

It's not allowable. This is just people talking out of their asses

 

[Geforce]

Actually, I should have read that Article further....it says it is possible to have a financial interest in only the team that you are employed by if approved by the NFL Executive Committee. So I stand correct, it may be possible for Manning to have a finanical interest in a team.

I still thank you for the information.

 

[Roman529]

The Packers are the exception because they were publically owned prior to the league's merger and were grandfathered into the league as such.

The league have to approve of every contract involving the NFL and that means ownersip and players alike.

If Bud Adams wants to offer Peyton ownership in a business that doesn't involve the NFL, the league still might void the contract because the league would view it as trying to get around league rules.

I was reading up on the Packer's ownership...they are the only publicly owned NFL team and they are the only team whose books you can look at. I also read up on the Vikings and Raiders who are both owned as part of a "limited partnership." Basically these limited partnerships are made up of many different individuals or corporations, but they usually have one person or a small group of people who are considered the owner....like Al Davis was with the Raiders. The Vikings I believed are owned by Ziggy Wilf, and three other limited partners. They do check out everybody who is an owner....they have an NFL Security Team that audits the background and financial history of everyone who owns any part of the team. To become an NFL owner you have to have the approval of 24 of the 32 owners. I am sure if teams tried to pay free agents outside the normal contractual procedures the contract would get voided and the Commish would probably lay out some huge fines.

 

[SMadison29]

It should be a rule in all sports. The NBA has it right. Michael Jordan was forced to sell his portion of the Wizards in order to play for them.