Green Bay Packers fans tomorrow will have the chance to purchase shares of the franchise, each for $300.
The team on Monday released preliminary details on its sixth-ever stock sale, which begins Nov. 16 at 8 p.m. and continues through Feb. 25 (subject to extension).
According to a news release, the Packers are offering 300,000 shares. So if all 300,000 are sold at $300 per share, the Packers would receive $90 million.
There is a per person purchase limit of 200 shares, including shares purchased during the previous 1997-1998 and 2011-2012 offerings.
The sale will initially be limited to individuals in the U.S., Guam, Puerto Rico and the U.S. Virgin Islands. Shares are available for purchase online, or with personal check or cashier’s check by mail.
People who purchase shares of Packers stock are basically making a donation to financially support the team. The stock has no transferable value and shareholders do not receive any dividend on the investment.
Green Bay Packers Inc., has been a publicly owned, nonprofit corporation since Aug. 18, 1923, when original articles of incorporation were filed with Wisconsin’s secretary of state. The corporation is governed by a board of directors and a seven-member executive committee.
More information about the stock sale, including the formal offering document, will be available through the Packers’ website when the offering begins Nov. 16.
“We appreciate the interest that fans have expressed in our sixth stock offering,” Mark Murphy, president and CEO of the Packers, said in a statement. “While we are not yet in a position to fully discuss the offering, we do have some initial information that we can share for fans to consider. We look forward to formally launching the offering tomorrow.”
The Packers have had five previous stock sales: 1923, 1935, 1950, 1997 and 2011.
Currently, approximately 361,300 people (representing approximately 5,009,400 shares) are owners of the iconic franchise.
More than 269,000 shares were sold during the offering that began Dec. 6, 2011 and ended Feb. 29, 2012. All proceeds from that offering supported the expansion of Lambeau Field, a $146-million project that included a new distributed-audio sound system (2011), two new HD video boards and a new Bellin Health Gate on the north end of the stadium (2012), and approximately 7,000 additional seats in the south end zone served by the Shopko Gate (2013).
