The Green Bay Packers are looking to expand Lambeau Field and Packer fans are stepping up to pick up the bill. The only publicly owned team in the NFL has been selling off shares at $250 a pop, and so far, the team has raised more than $62 million.
Packers President and CEO Mark Murphy says that the team has sold nearly 250,000 shares and plans to sell about 30,000 more. USA Today reports that the money raised will go toward a $143 million expansion of Lambeau Field.
The stock shares went on sale on December 6th at Packers.com. The stock value will not go up and there are no dividends, but stockholders will be able to call themselves an owner of the Green Bay Packer and they’ll be able to show this as proof.
(Image courtesy of my Chicago born, traitor of a cousin.)
USA Today reports that stockholders do get voting rights and they can attend annual meetings.
CEO Mark Murphy said:
“The support from our fans has been outstanding and we appreciate their enthusiasm. We continue to receive interest in the offering, and this increase in the number of available shares will help ensure that we are able to accommodate all those who want to become shareholders.”
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