why are the packers selling stock

by Margarete Hahn Published 2 years ago Updated 2 years ago

The Green Bay Packers will sell $90 million of “stock” in the pro football team to help fund improvements at Lambeau Field. It is just the sixth time in the NFL squad’s storied history that it has offered shares to the public.

The Packers said they would use the money for improvements at Lambeau Field. Projects at the stadium, including completed and planned concourse upgrades, and new video scoreboards, total about $250 million. The NFL requires money raised by a stock sale to be used only for stadium projects that are beneficial to fans.Jan 31, 2022

Full Answer

Where to buy Packers stock?

Nov 16, 2021 · More information and the purchase agreement can be found at packersstock.com. The Packers are offering 300,000 shares through Feb. 25, 2022. The offering marks the club's sixth ever, and first in ...

How to purchase Packer stock?

Nov 15, 2021 · The Green Bay Packers will sell $90 million of “stock” in the pro football team to help fund improvements at Lambeau Field. It is just …

Can I buy Packer stock?

Mar 10, 2022 · The Packers announced on Thursday that they sold “more than 198,000 shares” at $300 each, in their latest stock offering. Along the way, the Packers added 176,160 new shareholders. But here ...

Can I still buy Green Bay Packers stock?

Oct 28, 2021 · Photo by Larry Radloff/Icon Sportswire via Getty Images. The Green Bay Packers announced today that the NFL has approved the team to sell team stock, which was last done in 2011 following the ...

Are the Packers still selling stock?

The Packers are offering 300,000 shares. No one may buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 and 2011-2012 offerings). The offering will continue until Feb. 25, 2022, subject to extension, or until fully subscribed.Feb 17, 2022

Will the Packers sell stock again?

The Packers stocks will continue to be sold until February 25, 2022. But the Packers franchise have shared that they have the option to extend the sale.Dec 9, 2021

How much Packers stock has been sold?

194,537 shares

Green Bay has sold 194,537 shares in 175,874 transactions, earning more than $64.5 million. Shares have been purchased from all 50 states and also includes shares bought from U.S. territories and areas in Canada. The franchise, with its unique public ownership, began its sixth-ever stock offering on Nov.Feb 17, 2022

Why do the Packers have shareholders?

The Packers sold shares to the community to keep the team afloat and it has been operating in that way ever since. However, stockholders cannot make any profit off their stocks as they do not have an equity interest or pay dividends and they cannot be traded or sold.

How much is a Packers share worth?

$300

It's the sixth public sale of stock in the storied NFL franchise. Each share costs $300 in U.S. dollars, plus a handling fee. The team hopes to raise $90 million for construction projects at Lambeau Field, new video boards and concourse upgrades.Nov 19, 2021

Do Packers shareholders get Super Bowl rings?

The shareholders' official rings for men and women feature several elements of the club's Super Bowl ring, including an exclusive brand on the crown. Personalization options are also available in a variety of metal and stone options.Jun 17, 2011

Can I buy Packers stock?

More information about your ownership can be found online at packersowner.com. Please note that Green Bay Packers common stock is not available for purchase outside of an offering period. The Packers' last stock sale was offered through February 29, 2012. Future offerings are not currently being considered.

Who gets the profits from the Green Bay Packers?

The Packers reported profit from operations for 2019-2020 of $70.3 million. Total revenue and profit from operations, rather than net income, are the more significant number in Packers' finances because all money, whether profit or not, goes into team operations or the community. Packers stock does not pay dividends.Jul 16, 2021

Do the Packers pay dividends?

Packers stock cannot be sold and it does not pay dividends. It can be transferred to family members. Shareholders get to vote for Packers board directors and certain other motions at the annual shareholders meeting in July.Nov 15, 2021

Why are the Packers the only publicly owned team?

The 1960 constitution of the NFL has a “Green Bay Rule.” That rule states that “charitable organizations and/or corporations not organized for profit and not now a member of the league may not hold membership in the National Football League.” In other words, the Green Bay Packers is grandfathered in as the only ...Sep 9, 2018

Are the Packers a non-profit?

The Packers are owned by the fans, making them the only publicly owned, not-for-profit, major professional team in the United States. The Pack have been a fan-owned operation since the primitive pro football days of the nineteen-twenties, when N.F.L.Jan 25, 2011

Do the fans own the Packers?

Green Bay Packers, Inc. The Packers are the only publicly owned franchise in the NFL. Rather than being the property of an individual, partnership, or corporate entity, they are held as of 2021 by 361,300 stockholders.

Topline

The Green Bay Packers will sell $90 million worth of stock in the team to the public with the hopes of funding improvements to Lambeau Field, marking the sixth time in the publicly owned team’s unique history that it has sold shares of the organization.

Key Facts

The Packers will sell 300,000 shares at $300 a share starting Tuesday morning at 8 a.m. CST and will continue to sell until Feb. 25, 2022, according to a statement released by the team Monday.

Big Number

361,300. That’s approximately how many people own a combined 5,009,400 shares of the Packers franchise prior to Tuesday’s sale.

Key Background

Forbes estimates the team’s value at just under $3.48 billion as of August, making it the thirteenth most valuable franchise in the NFL, earning an estimated $371 million in revenue. Its value increased 14% since last year.

Tangent

The sale follows MVP quarterback Aaron Rodgers’ Covid-19 diagnosis, after which it was revealed that he misled the public about his vaccination status. Prior to the 2021-22 NFL season, Rodgers claimed he was “immunized,” a term he later clarified to mean that he was taking ivermectin, an unproven and dangerous substitute to the Covid-19 vaccine.

Is the Packers stock worthless?

Packers stock is functionally worthless. The Packers label their slivers of ownership “common stock.”. It pays out no dividends. No equity interest. No ability to trade it. It’s largely a gesture from fans towards the team, a vote of confidence. That isn’t to say that there are no perks at all.

How many shareholders own the Packers?

The Packers are owned, in the legal sense, by 360,760 shareholders. This unorthodox situation came about mainly out of necessity, rather than ideals. In 1923, the Packers had one shortcoming — they were broke. On the verge of collapse, the team took advantage of their 1911 founding date and a quirk in the NFL bylaws.

Is the Green Bay Packers a non profit team?

The Wisconsin squad represents the only publicly-owned, non-profit team in a major sports league in the United States.

What was the shortcoming of the 1923 Packers?

In 1923, the Packers had one shortcoming — they were broke. On the verge of collapse, the team took advantage of their 1911 founding date and a quirk in the NFL bylaws. With no hope of finding a friendly investor to buy the team, they went with the most dedicated revenue source possible — their fans.

Can non profit organizations enter the NFL?

Public, non-profit organizations aren’t allowed to enter the NFL. While that seems mean-spirited, it’s also worth noting that Packers fans have little to gain themselves from owning a piece of the team. Packers stock is functionally worthless. The Packers label their slivers of ownership “common stock.”.

Why is the Packers stock on sale?

The football team states that it will use the money gained from the offering to help ongoing construction projects for the team’s home stadium, Lambeau Field. Among the projects are new video boards and upgrades to the concourse.

Does Packers stock pay dividends?

The stock doesn't pay dividends, nor can it count as a tax deduction when purchased. Packers stock isn't a traditional stock investment—it basically offers nothing but historical and sentimental value.

Where to buy Packers stock

Packers stock can be purchased on the team’s stock portal. The shares are $300 each, and there's also a handling fee. They can be purchased by credit or debit card, electronic bank transfer, or mailed check. Only U.S. citizens can purchase shares, and they can only be purchased individually.

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