Packers put stocks up for sale for the first time in a decade


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Packers put stocks up for sale for the first time in a decade

300,000 new shares will go on sale for $ 300 each; no one can buy more than 200 shares in the club

GREEN BAY – Do you want to own a team of NFL? The opportunity came to buy a stake in the Green bay packers for $ 300.

Sure, the shares do not have any value, do not pay any dividend, and do not allow voice or vote on team matters, but the Packers will be offering their club stakes for just the sixth time in franchise history, and the first time in 10 years.

The first stock sales (1923, 1935, and 1950) were made out of necessity to keep the team financially afloat in the small market of Green bay. Additional series of actions were offered in 1997 and 2011 to raise money for the stadium expansion and other projects.

The NFL allows Packers Periodically make such offers to compensate for the fact that the team does not have a deep-pocketed owner who can invest in the franchise. However, the league stipulates that the money raised from those stock offerings can only be spent on things like stadium or facility improvements, and cannot be used for operating expenses or anything that involves players.

There are currently 5,009,479 shares held by 361,362 shareholders, neither of which receives dividends, which means it is essentially worthless paper. The team’s bylaws mandate that “to protect against someone taking control of the team, the articles of incorporation prohibit one person from owning more than 200,000 shares.”

The team has a reserve fund that, until its last financial report in July, was just under $ 400 million.

“We appreciate the interest that fans have expressed in our sixth share offering,” said the club president, Mark murphy, this Monday in a statement. “Although we are not yet in a position to discuss the offer, we do have some initial information that we can share for fans to consider. We look forward to the possibility of formally launching the offer tomorrow.”

The most recent offer, which launches this Tuesday, will sell 300,000 new shares for $ 300 each. No one can buy more than 200 shares, including those acquired in the 1997 and 2011 sales. Information regarding how the shares can be acquired can be found on the club’s official website, Packers.com.

Without a sole proprietorship, the team is managed by a president – currently, Murphy– who heads a seven-member executive committee. Also, there is a directory of 42 people.


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