Green Bay Packers Offer Stock Sale For First Time In Decade
The NFL’s only publicly-owned franchise, Green Bay Packers, intends to sell 300,000 shares of stock, to raise $90 million. The stock sale comes as the Packers grab NFC North’s number one seed.
For the first time in a decade and the sixth time in the team’s history, fans can only a piece of the football team for $300 per share.
According to ESPN, “the stock will have no value, pay no dividend and allow no say in team matters.” In return for the sale, fans will receive a stock certificate commemorating the purchase.
“We appreciate the interest that fans have expressed in our sixth stock offering,” said Packers President and CEO Mark Murphy. The team said: “Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.”
The team held stock sales in 1923, 1935, and 1950 to keep the team afloat in the Green Bay area. Stock sales in 1997 and 2011 allowed the team to upgrade and expand the stadium.
The sale of 300,000 shares at $300 apiece will begin Tuesday and last through Feb. 25, 2022. The team said that no one person could “buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 and 2011-2012 offerings).”
There are 5,009,479 shares of stock held by 361,362 stockholders. A president runs the team — currently Mark Murphy — who heads a seven-member executive committee without a single owner. There is also a 42-person board of directors.
There are some perks in holding team stock. Investors are invited to its annual shareholders meeting. At the 2019 corporate event, the team had more than 4,200 attendees at Lambeau Field. They were informed about increasing revenue, stadium upgrades, and coaching changes.
Tue, 11/16/2021 – 17:08