Green Bay Packers offer 'ownership' shares for first time in 10 years

GREEN BAY, Wis. — So you wish to own an NFL group? Here’s your possibility to purchase a share of the Green Bay Packers for $300.

To make certain, the stock will have no worth, pay no dividend and enable no say in group matters, however the Packers are using shares of “ownership” for simply the 6th time in franchise history and the very first time in ten years.

The early stock sales (1923, 1935 and 1950) were done out of need to keep the group afloat economically in the little market of Green Bay. Additional stock sales followed in 1997 and 2011 to raise cash for arena growth and tasks.

The NFL enables the Packers to regularly carry out such sales to offset the reality that the group has no deep-pockets owner who can invest into the franchise. However, the league states that cash raised from the stock sales can be utilized just for things like arena and centers enhancement tasks and cannot be utilized for business expenses or anything including gamers.

There are 5,009,479 shares of stock held by 361,362 investors, none of whom get any dividends — implying it’s basically an useless notepad. The group’s laws specify that “to protect against someone taking control of the team, the articles of incorporation prohibit any person from owning more than 200,000 shares.”

The group has a reserve fund that since its newest monetary disclosure in July deserved simply under $400 million.

“We appreciate the interest that fans have expressed in our sixth stock offering,” Packers president Mark Murphy stated Monday in a declaration. “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 newest sale, which releases Tuesday, will provide 300,000 brand-new shares for $300 each. No one might purchase more than 200 shares, consisting of shares bought in the 1997 and 2011 sales. Information about how to buy shares can be discovered on the group’s site, Packers.com.

Without a single owner, the group is run by a president — presently Murphy — who heads a seven-member executive committee. There is likewise a 42-person board of directors.

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