Green Bay Packers to offer shares of team for first time in 10 years

The Green Bay Packers have announced that they will be selling shares of their team on Tuesday. According to Richard Raymond of the Green Bay Press-Gazette, the shares will be sold at $300 each plus a handling fee. Green Bay will be selling off 300,000 shares in total, and sales are restricted to residents of the United States, Guam, Puerto Rico, and the US Virgin Islands. For those who are not sold on buying a share right now, the sale will continue up until Feb 25, 2022 and could be extended.

It should also be noted that regulatory approval on the sales of the shares is on a state-by-state basis. Green Bay said Monday, after announcing the sale, that there are some states that have not done so just yet. Also, individuals are limited to 200 shares maximum. and that includes any shares acquired in the cells from 1997 and 2011.

If the Packers can successfully sell off all 300,000 shares at $300 a piece, that would net them a sum of $90 million. Green Bay said they would use the money for improving the Packers home at Lambeau Field. That $90 million would be about 36% of the funds needed to complete the planned projects at the stadium. Those plans currently include concourse upgrades and a new video scoreboard and are valued at a total of around $250 million.

Packers shares come with some risk

While, for most, owning a portion of a sports franchise is a dream come true, there is some fine print that buyers of these shares should be aware exist. The Green Bay Packers have noted that the shares sold have no value and they are not required nor obligated to buy them back. And holders of any shares of an NFL team are required to follow the rules and guidelines given to shareholders.

“The NFL rules prohibit conduct by shareholders of NFL member clubs that is detrimental to the NFL, including, among other things, owning a financial interest in any other NFL member club or other professional football organization; Loaning money to other NFL member clubs or any player, coach or employee thereof or any football official employed by the NFL; Acting as an agent for any NFL player; publicly criticizing any NFL member club or its management, employees or coaches or any football official employed by the NFL; or paying an NFL player or coach.”

The statement also includes the penalties for violating any of these rules, which could be a fine of up to $500,000.

Packers announce they are selling 300,000 shares at $300 apiece.

Packers note shares have no value and Packers aren't under any obligation to buy them back.

Will be interesting to see fine print. Previously, Roger Goodell could fine Packers shareholders up to $500,000 😳 pic.twitter.com/AUqiWwK74B

— Darren Rovell (@darrenrovell) November 15, 2021