Packers sold 126K shares of stock since Tuesday
GREEN BAY, Wis. (WBAY) - The Green Bay Packers tell Action 2 News they sold 126,000 stock shares since Tuesday morning out of the 300,000 the team intends to sell. The Packers also announced the stock sale is now open to residents of Canada, too.
“Upon announcing our sale in the United States, we received immediate interest from Packers fans in Canada who were hopeful the offering would be available there,” Packers president/CEO Mark Murphy wrote in a statement Friday. “We have now clarified the regulatory requirements in Canada and are excited to officially offer ownership to our Canadian fans.”
It’s the sixth public sale of stock in the storied NFL franchise. Each share costs $300 in U.S. dollars, plus a handling fee. The team hopes to raise $90 million for construction projects at Lambeau Field, new video boards and concourse upgrades.
The Packers said Tuesday they sold $10 million worth of shares in the first few hours of the sale.
It’s not stock in the usual sense of the word. The stocks aren’t intended for profit; there’s no dividend, tax deduction or protections under securities laws; and you can’t threaten to move the team to Los Angeles. Fans buy bragging rights about public ownership in a team that is unique in the NFL; get invites to the annual stockholder meeting at Lambeau Field and offers for exclusive merchandise; and receive a certificate suitable for framing.
Fans will find the offering documents required to purchase stock at https://packersstock.com. Shares can be purchased online with credit or debit cards or electronic bank transfers. Purchases in Canada must be conducted online. People in the U.S. and its territories have the option to call 833-OWN-PACK (833-696-7225) to receive the documents by mail and purchase shares with a personal check or cashier’s check.
Stocks can only be purchased by individuals (or spouses as joint tenants), including shares purchased as a gift for other individuals. Owners are limited to buying 200 shares, counting shares they purchased in the 1997-98 and 2011-12 stock offerings.
The sale will continue until all shares are sold or until February 25, 2022, whichever comes first. However, the Packers say they have the option to extend the offer.
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