For most non-billionaires, being an NFL owner is almost impossible, but Packers Fans will get a chance to own a piece of their team this week thanks to a stock offering.
The Packers announced that starting Tuesday morning, the group will sell 300,000 shares. Each share will cost $300, and once all of them are sold out, the team will raise a total of $90 million that will be used to pay for ongoing construction projects at Lambeau Field.
The current sale marks only the sixth time in franchise history that the Packers have sold a team item. The first stock offering took place in 1923 with another in 1935 and then 1950. In more recent history, the Packers held a stock offering in both 1997 and 2011. Ten years ago, the price of a stock was just $250.
According to Packers president Mark Murphy, fans are always asking him when the next stock sale will be.
“It has been 10 years since our last offering and we are frequently asked by fans when the next opportunity will be to become a Packers owner,” Murphy said. “For them and our next generation of fans who are already getting ready, we’re excited to welcome our newest shareholders.”
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If you want to buy stock in Packers, one thing to keep in mind is that your shares are essentially worthless. While you’re technically part of the team’s owners, which is great to brag about, that’s all you’ll get out of your stock. The stock does not appreciate in value, is not tradable, and will not pay dividends. Also, buying shares doesn’t mean you’ll start to have input in the team’s decision-making process. Murphy won’t call you on your cell phone to see if you should try to keep Aaron Rodgers after the 2021 season. That being said, the team does not have an annual shareholder meeting and you will be invited to attend.
When it comes to Packers stock, there are some rules. For example, no one can buy more than 200 shares, which makes sense, because I guess they don’t want one Bear fans come in and make a hostile takeover of the franchise.
The current stock offering will end on February 22, 2022 or when all 300,000 shares have been sold. You can click here if you really want to buy some. In this stock offering, about 5,009,400 of the team’s shares are owned by about 361,300 shareholders, according to the Packers website.
Packers is the most uniquely run franchise in NFL. With no owners in place – they are owned by everyone – the team is run by a chairman (Murphy) who acts as the main decision maker. The president is the head of a seven-person executive committee. There is also a board of directors with 42 people on it.
https://www.cbssports.com/nfl/news/want-to-own-an-nfl-team-packers-offering-rare-chance-to-purchase-stock-in-franchise/ | Want to own an NFL team? Packers provide a rare opportunity to purchase in the franchise