Green Bay Packers float addition 30,000 shares due to huge demand - NFL News
The Green Bay Packers are on a roll this season on the field and demand for shares in the franchise is so great that the management has decided to float an additional 30,000 shares.
The Packers had earlier in the season floated 250,000 shares of the franchise in the market for individual owners to pick up but the sales of stock have been much greater than at first expected. The Packers in the first three weeks had sold nearly all of
the shares with fans picking up on the offer in droves. Seeing the demand the franchise is offering a further 30,000 shares to fans and individuals.
The success of Green Bay Packers stock floatation has been unprecedented. Each stock costs $250 plus a further $25 in handling fees and provides nothing in return to the owner except a certificate stating their ownership in the franchise. The stock’s value
does not rise like traditional shares of a company nor are any dividends paid to owners. However, owners do get voting rights
Such poor returns however, have not stopped the Packers fans and the new shares are also likely to be sold out within days.
Fans can purchase stock only through the website www.packersowner.com with the offer valid till February 29th.
Packers CEO and President Mark Murphy has thanked the fans for their support of the franchise in a statement.
"The support from our fans has been outstanding, and we appreciate their enthusiasm," Mark Murphy, the team's president and CEO, said Tuesday in a statement. "We continue to receive interest in the offering, and this increase in the number of available shares
will help ensure that we are able to accommodate all those who want to become shareholders."
The National Football Conference North Champions will invest the money gained from the floatation in expansion of the famous Lambeau Field in Green Bay, Wisconsin. The expansion will see additional seating and better facilities provided to the fans.
The Packers approach to raise money is entirely different from other National Football League franchises. Most franchises will ask the state to fund improvements under the threat of changing their current location. The Packers status as a publicly owned
company provides it with flexibility to raise money through private investment.
The Packers are the first seed in this year’s playoffs and with a victory on Sunday over Detroit Lions will end the season with a 15-1 record. The Super Bowl XLV winners are the form team this season and are well on their way to another Super Bowl event.
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