The Green Bay Packers raised $65.8 million from the team’s stock sale, which ended on Feb. 25. It was the sixth stock sale in the history of the team.
The Packers added 176,160 new shareholders and sold more than 198,000 shares at $300 each. Including previous offerings, the organization now has more than 537,000 shareholders.
Proceeds from the stock sale will be used for ongoing construction projects at Lambeau Field, including new video boards and concourse upgrades, the team said.
“We were very pleased with the enthusiastic response from our fans during the recent stock offering,” said Packers president and CEO Mark Murphy. “We are proud to welcome a new generation of shareholders from across the country and Canada. Their support is a critical component of our ability to continue enhancing the fan experience and investing in Lambeau Field. Maintaining our stadium as a top-tier facility that serves as a year-round destination contributes to the sustained success of both the franchise and our community.”
Green Bay Packers Inc., has been a publicly-owned, nonprofit corporation since 1923. The Packers’ first five stock sales in their history took place in 1923, 1935, 1950, 1997 and 2011. The 2011 sale, with shares priced at $250, added more than 250,000 new shareholders and raised $67.4 million toward a new entrance tower and viewing platform in the north end zone and an expansion that added roughly 6,600 seats to the south end zone. That project was completed in 2013. The 1997 sale, with shares priced at $200, added 105,989 new shareholders and raised more than $24 million, which was used for the Lambeau Field redevelopment project completed in 2003.
The corporation is governed by a board of directors and a seven-member executive committee. Shareholders do not receive any dividend on the investment.
