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Dec. 28 (Bloomberg) -- The Green Bay Packers are selling an extra 30,000 shares in the team because demand for an ownership stake in the defending Super Bowl champions remains strong heading into the National Football League playoffs.
The Packers sold almost 250,000 shares in the first three weeks of their fifth stock package, according to an e-mailed release. The only publicly owned franchise in the major U.S. sports, the Packers are 14-1 this season and have clinched a first-round bye in the upcoming playoffs with a week remaining in the regular season.
Shares can be purchased for $250 over the phone or online at PackersOwner.com. The stock doesn’t pay dividends or appreciate in value and can’t be sold. The Packers are raising money for a $143 million renovation of Lambeau Field that will add two new gates, roughly 6,700 seats and a new video board.
“The support from our fans has been outstanding and we appreciate their enthusiasm,” Packers President Mark Murphy said in yesterday’s statement. “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.”
The team sold 1,600 shares in the first 11 minutes of the sale on Dec. 6, and more than 185,000 shares, or $46.3 million, in the first two days. Should the team sell all 280,000 shares, it would bring in $70 million.
The sale will run until Feb. 29, unless all of the shares are sold out before then, according to the release.
Shareholders get a vote for the team’s board of directors and can attend stockholders’ meetings every summer in Green Bay, Wisconsin, with exclusive access to events such as rookie practices and stadium tours. They also have a special store with apparel such as “I Own A Piece of the Pack” T-shirts.
--Editors: Larry Siddons, Rob Gloster
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