GREEN BAY (Wis.) — Green Bay Packershave 176,160 additional owners and $65.8 million more in their coffers.
This was due to the stock sale of the franchise announced in November and recently concluded. Thursday's announcement by the Packers was that they had sold more than 198,000 shares of stock.
This sale was the sixth in team history and the first in ten years. This sale resulted in shares selling for $300
Mark Murphy, Packers president, said that he was pleased by the enthusiastic response to the stock offer. We are proud to welcome new shareholders from Canada and across the country. Their support is essential to our ability invest in Lambeau Field while improving the fan experience. The sustained success of the franchise and our community is dependent on maintaining our stadium as a premier facility that serves as an all-year destination.
The sale saw 17% of shares being purchased by Wisconsin fans. California, Texas, Illinois, Illinois, Florida, Florida and New York were next (8%), 5% (5%), 5% (5%), 5% (5%), and 3% (3%). Canada sold approximately 3,500 shares.
The stock was owned by 361,362 stockholders who held 5,009,479 shares. None of these stockholders receive dividends. According to the team's articles of incorporation, no one can own more than 200,000 shares in order to protect the team from being taken over by someone else.
The NFL allows the Packers periodically to conduct such sales in order to compensate for the fact they don't have one, independent wealthy owner who can invest.
The league stipulates, however, that any money from stock sales must be used only to improve stadiums and facilities. It cannot be used to pay operating expenses or for anything involving players. Aaron RodgersNew contract
Murphy stated that the money raised will go towards construction projects such as new video boards or concourse upgrades.
