Green Bay Packers Reveal New Stock Sale
December 2, 2011
The National Football League’s only remaining publicly-owned franchise, the Green Bay Packers, has announced details revolving around a new stock sale that will help fund the redevelopment of Lambeau Field.
The Super Bowl champions want to expand the south end of Lambeau Field, adding an extra 6,600 seats, bringing the capacity to a little fewer than 80,000. The installation of a new sound system earlier this year began the redevelopment phase, which is planned for completion prior to the start of the 2013 season.
Details of the team’s fifth stock sale, their first in fourteen years, hopes to raise US$130million. Each share will cost $250 each when 250,000 go on sale on Tuesday, although there is a 200-share cap. The sale will run through until 29 February.
Perks of being a stockholder include voting rights, a tour of the Hall of Fame, and the possibility to mingle with executives at annual. However, stockholders must live in the US, Guam, Puerto Rico and the US Virgin Islands.
Green Bay’s President and CEO Mark Murphy said: “We appreciate the interest that fans have expressed in our fifth stock offering.
“We are not yet in a position to fully discuss the offering. However, this information will answer some of the initial questions that we’ve received. We look forward to formally launching the offering next week.”