Nov 11, 2011
How about an ownership share in the team itself?
The Green Bay Packers, the NFL’s and professional sports’ only public own franchise is preparing for the fifth stock sale in the team’s storied history. Foley & Lardner LLP, the Wisconsin-based law firm representing the Packers, sent a letter to the Wisconsin department of state, asking permission to waive its regulations and licensing requirements to allow the team to sell stock in Utah, on or around November 15th, according to Bloomberg Sports.
The Packers last sold stock in 1997, when they raised $24 million dollars to update Lambeau Field. This time the Packers are looking to spend upwards of $140 million dollars to cover a 6,600 seat renovation on the historic stadium. NFL Commissioner Roger Goodell approved the Packers plan to sell stock back in October.
The Packers currently have 112,00 shareholders, who own a little under 5 million shares of stock. Three caveats laid out by the Packers for this particular sale: 1. The stock price may be upwards of $250 per share, entities may be allowed to purchase shares at a higher price than individuals; and new shareholders will be able to purchase shares online.
Shares in the franchise never pay dividends, do not appreciate, and cannot be sold. But then again…you get the satisfaction of knowing that you own a piece of the Super Bowl Champion Green Bay Packers.
It’s probably hard to put a dollar figure on that.