For first time in a decade, Packers plan to open $300 stock offering Tuesday morning
GREEN BAY, Wis. (AP) — Any Green Bay Packers fans wanting to invest a personal stake in their favorite team has a chance to do so this week.
The NFL’s only community-owned team is opening the sixth stock offering in franchise history Tuesday morning. The price per share is $300 and is limited to people in the United States as well as Guam, Puerto Rico and the U.S. Virgin Islands.
Potential investors should keep in mind that owning stock in the Packers doesn’t constitute an investment in the common usage of the term.
There are over 5 million shares of stock held by 361,362 stockholders — none receive any dividends. That means they’re basically only worth the paper they’re printed on.
Also, the Packers have a reserve fund that, at its latest financial disclosure in July, was worth nearly $400 million.
The team has no obligation to repay the amount a buyer pays to purchase Packers stock. The Packers say anyone considering whether to buy stock in the team shouldn’t make the purchase in the interest of making a profit or receiving a dividend or tax deduction.
The last “stock” offering was in 2011. That year, along with 1997 sales were to raise money for stadium expansion. Early stock sales (1923, 1935, 1950) were done to keep the team afloat in the small market of Green Bay.
Shares can be purchased online with credit cards, debit cards or electronic bank transfers. They’re also available by mail with a personal check or cashier’s check.
Packers officials said they’d provide more information at www.packers.com on Tuesday.
TOP PHOTO: FILE – Green Bay Packers’ Randall Cobb celebrates his touchdown catch during the first half of an NFL football game against the Pittsburgh Steelers Sunday, Oct. 3, 2021, in Green Bay, Wis. (AP Photo/Mike Roemer)
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