Green Bay Packers sell more shares than expected - NFL News
There are no fans more loyal in the National Football League (NFL) than the fans of Green Bay Packers and they proved that fact once again as the franchise revealed that it had sold more than 268,000 shares of the Packers to fans.
Green Bay launched its latest and fifth stock offering in history to fans during the 2011-12 season. Starting in December, the Packers initially offered their fans 250,000 shares with proceeds set to be invested in the franchise’s iconic Lambeau Field Stadium.
However, the response from fans was more than the Packers ever expected with 185,000 shares costing $ 250 each plus a $ 25 handling fee being sold during just the first 48-hours.
Seeing the response, Green Bay further added 30,000 more shares to the offering.
With more than 268,000 sold the Packers have raised around $ 67 million which will partly fund the approximately $ 143 million refurbishment of the stadium.
Green Bay Packers President and CEO Mark Murphy said about the response that it was more than he had ever imagined and praised the fans for their passion about the only publicly owned NFL franchise.
"I was really pleased with the way our fans responded. I was a little surprised, to be honest, but on the other hand I'm never surprised by the passion and loyalty of our fans."
The overwhelming fans response was helped a lot by Wisconsin natives who are known as cheese heads across America due to their fanatical passion for the Packers.
Green Bay’s performance on the field also improved the stock sales chances as when the shares were announced the Packers were still unbeaten and looked well on their way to successfully defend their Super Bowl title.
The Packers though finished the regular season 15-1 and were knocked out of the playoffs in the divisional round by eventual Super Bowl winners New York Giants.
That though has not stopped the shares from selling out like hot cakes.
Surprisingly the shares sold pretty well in both Chicago and Minnesota home of the Packers two biggest National Football Conference (NFC) North division rivals the Chicago Bears and Minnesota Vikings.
Fans who bought the shares though will not gain any monetary benefits nor have priority season ticket access.
They essentially have bought a very expensive piece of paper that just proves that they are owners of Green Bay Packers and for most die-hard fans that statement is enough.
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