Are you interesting in owning a piece of one of football’s most historic franchises? The Green Bay Packers this week began selling shares of stock in the team for the first time in 13 years.
The reigning Super Bowl Champions — who are also the only undefeated team in the NFL this season — are offering shares to the public with the goal of raising enough money for improvements to legendary Lambeau Field.
Shares are priced at $250 each with a limit of 200 shares per person. Each purchase will also carry a $25 handling fee.
While the team has not disclosed how many shares it plans to sell, reportedly the anticipated range is between 100,000 and 250,000 shares. However, the Packers are authorized to sell up to 880,000 shares.
This stock sale is the team’s most recent; in 1997-98, the Packers sold 120,000 shares at a price of $200 per share. The first public stock offering occurred in 1950 in an effort to raise money to support team operations.
The Packers are the only publicly owned professional team in the United States, but owning the stock holds more sentimental value than actual value.
Shareholders receive certificates detailing their purchases and may attend a yearly shareholders’ meeting, where they can vote those shares. Additionally, buyers can purchase exclusive merchandise, which is only available to shareholders, and take exclusive tours of Lambeau Field.
But public shareholders do not exert any influence on the team’s operations. Currently, there are roughly 110,000 shareholders of Packers’ stock. With the cap at 200 shares per person, any voting influence is negligible at best.
Unlike some traditional stocks, Packers stock does not pay a dividend and therefore provides no opportunity for financial gain. Additionally, the stock can only be handed down to family members and cannot be resold.
However, for the sports fan who dreams of owning a piece of a professional team, the deal could just be too good to pass up.
The shares are sold at PackersOwner.com, and the offering will end when all the shares are sold or by February 29, 2012, whichever comes first.
