- The Green Bay Packers will sell $90 million of “stock” in a pro football team to help fund improvements at Lambeau Field.
- This is only the sixth time in the history of an NFL squad that it has offered shares to the public.
- The offer was announced a day after Packers quarterback Aaron Rodgers returned from the COVID-19 reserve list to help the team lead a 17-0 win over the Seattle Seahawks.
- The Packers were fined $300,000 by the NFL because Rodgers had previously violated COVID protocol by speaking to reporters without a mask while not being vaccinated.
Cheeseheads, Get Your Stock Here!
Green Bay Packers on Tuesday The NFL will offer to sell $90 million of “stock” in the team To help fund reform at Lambeau Field, only the sixth time in the squad’s history he has offered Share to the public.
The Packers said in a statement Monday that an offering of 300,000 shares will begin Tuesday at 9 a.m., priced at $300 per share.
The sale, which will run until 25 February, was approved by the National Football League in late October.
The stock has no underlying value and cannot be traded on the open markets.
The last time a publicly owned, nonprofit Wisconsin corporation, which owns shares of the Packers, was sold in 2011. Prior to this, Packer stock was sold in 1923, 1935, 1950, 1997 and 2011.
“Stock in Packers does not constitute an investment in ‘stock’ in the ordinary sense of the word,” Packers noted in a press release regarding the offering.
“Anyone contemplating the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefit.”
According to the team, approximately 5,009,000 shares of Packers stock are currently held by approximately 361,300 shareholders.
“We appreciate the interest expressed by fans in our sixth stock offering,” said Packers CEO Mark Murphy.
Murphy said, “While we are not in a position to fully discuss the offering yet, we do have some preliminary information that we can share for fans to consider. We look forward to formally launching the offering tomorrow.” Looking forward.”
Buyers of the stock must reside in the US, US Virgin Islands, Puerto Rico or Guam, and cannot purchase more than 200 shares.
Stocks purchased by an individual in the 1997-1998 and 2011-2012 share offerings by the Packers are counted against that maximum.
“More information, including a formal offer document, will be available when the offer starts,” the team said.
“Interested fans will be able to get full details online tomorrow www.packers.com,” the Packers said.
The offer was announced a day after star Packers quarterback Aaron Rodgers returned to the team after missing last week’s game in a 17-0 win over the Seattle Seahawks.
Last week, the Packers were fined $300,000 by the NFL after Rodgers reportedly tested positive for the coronavirus because Rodgers had previously violated COVID protocol by speaking to reporters without a mask while not being vaccinated .
Rodgers was personally fined $14,650 for attending a Halloween party with teammates without wearing a mask.
Rodgers misled the public about his vaccination status in August by saying he had been immunized, and by not correcting subsequent reports that he had been vaccinated.
“I’ve made some comments that people might have thought were misleading,” Rodgers told “The Pat McAfee Show” last Tuesday. “For anyone who feels misled by those comments, I take full responsibility for those comments.”
The Packers are first in the NFC North divisional standings, tied for the best in the NFL, with an 8–2 record.