Want To Own A Piece Of the Green Bay Packers?
The defending Super Bowl Champion Green Bay Packers are giving fans the chance to own part of the team.
On Thursday, the Packers announced that they will be having a stock sale to help pay for $130 million in renovations at Lambeau Field. This will be their first stock sale since 1997 and their fifth in team history. The Packers are the NFL’s only publicly owned team.
Owning a piece of Packers stock isn’t like a regular stock though. The value will not go up, there aren’t any dividends and it has little to none resale value. However, stockholders do get to vote as well as attend annual meetings where they can meet Packers executives and tour the Packers Hall of Fame.
250,000 shares will go on sale Tuesday and the sale will run through February 29. The cost will be $250 plus a handling charge per share. Stock can only be purchased by individuals, not businesses, and there’s a 200-share cap.That cap includes any previously owned stock. The newly for sale stocks will add to the current total of 4.75 million shares owned by 112,205 shareholders. Shares can be purchased by mail or at packers.com.
The money raised from the sale will go to renovations at Lambeau Field. The Packers will be adding thousands of seats and other amenities to the stadium for the 2013 season.