By the end of the 1922 season, the Packers were nearing bankruptcy, but local businessmen, known as "The Hungry Five," got behind the team and formed the Green Bay Football Corporation in 1923, which continues to run the franchise.
Based on the original "Articles of Incorporation for the (then) Green Bay Football Corporation" put into place in 1923, if the Packers franchise was sold, after the payment of all expenses, any remaining monies would go to the Sullivan-Wallen Post of the American Legion in order to build "a proper soldier's memorial."
After going through modest winning seasons during most of the 1920s, the Packers began to build a championship-caliber team, as they signed three future Hall of Famers in "Johnny Blood" McNally, Cal Hubbard, and Mike Michalske.
However, Curly Lambeau was able to build another elite team during these seasons, signing more future Hall of Famers like Clarke Hinkle, Arnie Herber, and most notably, receiver Don Hutson in 1935.
The Packers stayed at the top of the standings thanks to the play of Hutson, Hinkle, Herber, another future Hall of Famer in Tony Canadeo, and other standouts like Cecil Isbell, Ted Fritsch, Buckets Goldenberg, and Russ Letlow.
According to a 2013 article in ESPN The Magazine, the team's rapid on-field decline was tied in part to the unforgiving fields at the Lodge, or "the Rock" as the players derisively called it.
After giving him a free hand for most of the last three decades, several team executives revolted at the exorbitant costs of buying and renovating Rockwood Lodge; some members of the financial committee almost resigned.
He arrived in Green Bay for the 1946 season sporting tailored suits, saddle shoes and a cigarette holder, leading fans to call him "the Earl of Hollywood.
Coach Vince Lombardi took over a last-place team in 1959 and built it into a juggernaut, winning five league championships over a seven-year span culminating with victories in the first two Super Bowls.
After Pete Rozelle became NFL Commissioner in 1960, he made sure that every franchise got all its games broadcast on television, as up to that point only big-market teams like the Bears and Giants enjoyed this privilege.
The Packers began their final drive, aiming for glory, but it was not to be as Chuck Bednarik tackled Jim Taylor just nine yards short of the goal line as time ran out.
They won some crucial games, including a 42–27 win over the Baltimore Colts, a contest in which Paul Hornung (coming back from a betting scandal and injuries) scored five touchdowns.
A close defensive struggle, the game would be remembered for Don Chandler's controversial field goal in which the ball possibly went wide right, but the official raised his arms to grant the three points.
To cite a few examples, in the first round of the 1972 draft, when future Hall of Fame running back Franco Harris was still available, the Packers instead chose mediocre quarterback Jerry Tagge.
In 1981, when no fewer than three future Hall of Fame defenders were still available -- Ronnie Lott, Mike Singletary, and Howie Long, the Packers chose another mediocre quarterback, Rich Campbell.
In 1972, led by Hunter, workhorse running backs John Brockington and MacArthur Lane, and a sturdy defense that featured rookie Willie Buchanon, the Packers captured the NFC Central Division Title with a 10–4 record.
The 1989 campaign was the best in 17 years, with the Packers compiling a 10–6 record (including a victory over the eventual Super Bowl XXIV Champion San Francisco 49ers), but still missing the playoffs.
In a close game, Favre led the team to a 28–24 victory, but in the divisional playoff round Green Bay was overwhelmed 27–17 by the Dallas Cowboys, the eventual Super Bowl winner.
After this, they won the last five regular season games, finishing with a record of 13–3, which clinched the Packers their second consecutive NFC Central division championship, as well as home-field advantage in the playoffs.
In their fifth consecutive playoff appearance, the Packers rolled over the Tampa Bay Buccaneers 21–7 in the divisional round, then beat the 49ers 23–10 in the NFC Championship to make the Super Bowl for the second year in a row.
Denver took its final lead with under 2 minutes in the game when head coach Mike Holmgren intentionally allowed Terrell Davis to score the go-ahead touchdown.
Again, Green Bay faced its perennial foe the San Francisco 49ers, but luck would not be on their side this time, as they lost a close game, 30–27, on a Terrell Owens touchdown catch with 3 seconds remaining.
Green Bay closed the year on an upbeat note, winning 31–21 over Detroit on a clear, freezing day at Lambeau and giving the Lions an imperfect season.
Packers fans burned effigies of Favre, who was greeted by a chorus of boos and obscenities as he stepped onto Lambeau Field in the uniform of Green Bay's hated rival.
However, two key interceptions, one by defensive tackle B. J. Raji returned for a touchdown, and another by Sam Shields with less than a minute left, sealed the NFC championship for the Packers, who won 21–14.
Returning home, they beat an injury-depleted Bears team and while resting their starters in Week 17, Matt Flynn carried Green Bay to a wild shootout victory over Detroit.
After sitting out the wild-card round, Green Bay's post season came to an abrupt end in the divisional playoffs as the New York Giants (who went on to win Super Bowl XLVI) defeated them 37–20.
A similar play to what happened in Week 13 against the Lions occurred in the last 5 seconds when Aaron Rodgers threw a Hail Mary pass to wide receiver Jeff Janis to send the game to overtime.
The Packers' offense struggled under backup quarterback Brett Hundley, losing 5 of their next 6 games, before getting back-to-back overtime victories over the Tampa Bay Buccaneers and the Cleveland Browns.
2022 was a hard year for the Packers, with Davante Adams being traded to the Las Vegas Raiders during the off-season, which was in part affected by the potential departure of Aaron Rodgers in 2022 or 2023.