The Green Bay Packers have announced the details of a fan stock sale.
NFL fans can now own a team.
The Green Bay Packers have announced that they will be selling 300,00 shares of stock for (dollar)300 each.
The Packers are offering stock to the general public for the sixth time in franchise history, and the first since 2011.
The sale will begin on Tuesday and end on February 28.
May 25, 2022
Packers President and CEO Mark Murphy said in a statement, “We appreciate the interest that fans have expressed in our sixth stock offering.”
“While we are not yet in a position to go into detail about the offering, we do have some preliminary information for fans to consider.”
We are excited to officially launch the offering tomorrow.
Full details will be available on Packers.com tomorrow.”
Fans can buy Packers stock online, but no one can buy more than 200 shares at a time.
The Packers also pointed out that owning stock in the team isn’t the same as owning stock in the traditional sense.
And anyone buying stock should not do so in the hopes of making a profit or receiving a dividend check or a tax deduction.
According to USA Today, the Packers have 361,000 shareholders who own over five million shares collectively.
1923, 1935, 1950, 1997, and 2011 were the last stock sales.
The last two stock sales, according to ESPN, were held to raise funds for stadium expansion and projects.
The first three were completed in order to keep the team financially afloat in Green Bay, which is a small market.
The Green Bay Packers are the only NFL team without a majority owner.
The team is led by a president, who is currently Murphy, who also serves as the chairman of a seven-member board committee.
There is also a 42-member board of directors.
Fans understand that Packers stock is not like other stocks, but they are willing to pay a premium for a share.
“That’s why I’d like to buy a share for my father,” said Justin Salazar of Rio Hondo, Texas, to USA Today.
“Because of my father’s love for the Packers, I’ve been a Green Bay Packers fan since I was a child.” The Packers are also the only North American major league sports franchise to release its financial balance sheet every year, in addition to being the only publicly owned franchise in the NFL.
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