Why I keep using my time and articles to remind you about the Green Bay Packers upcoming stock sale when I honestly don’t want you to remember it is beyond me. Perhaps it’s because, as a huge Packer fan, I really don’t have it in me to not gush about it when I hear of the exciting upcoming reality that is to be.
As much as I don’t want to bring this to your attention, again (because the less that this is in the forefront of your mind, the more likely there will be an opportunity for me personally to take advantage of this chance), the Green Bay Packers franchise is all the more closer to going about a stock sale.
In fact, it’s so close I can almost taste it.
According to a letter that attorneys sent to the Utah securities regulators, stock could begin being sold “on or around Nov. 15.”
Sigh. I wish I wouldn’t have told you that.
As much of the attentive public already knows, the Green Bay Packers have only issued stock for the team four times in the past: in 1923, 1935, 1950, and 1997.
As usual, in my selfish push to disinterest you from the hype of the sale, I must inform you that, other than voting rights, there are no advantages to being a shareholder of the Green Bay Packers. You do not get ahead on the season-ticket waiting list, and you will never receive paid dividends. In addition to this, the stocks will not increase in value over time. So, there’s really no benefit to this purely sentimental investment, right?
As the only publicly owned, non-profit football team, and due to regulations that have since been put into place, stock ownership in this team is a once-in-a-lifetime opportunity. At the moment, 112,158 individuals own the Green Bay Packers, and no one can own more than 200,000 shares. The stocks also cannot be transferred, except to family members.
I want one. Ahem, Christmas IS coming…
Packers spokesperson Aaron Popkey said he believed that the franchise would get the required permissions since the money that they are hoping to raise from the sale will go towards stadium improvements and not towards operating costs.
“We continue to prepare for a potential sale, and we are not in a position to discuss specifics,” said Popkey.
“We would hope to have an offering yet this fall,” Popkey said.
There have not yet been any decisions made as to the number of shares that will be sold. However, there are a remaining 280,000 shares from the last sale that were approved to offer but they chose not to sell. In the instance that these shares were offered in the likely upcoming stock sale, there would be no additional splits necessary for current stock holders.
According to the October 13 letter by the Foley & Lardner law firm that discussed the sale, the cost is anticipated to exceed the previous $200 during the 1997 and 1998 sale: “for example, it may be $250 a share,” the letter stated.
But like I said, it really isn't a big deal, I’m positive you have better things to spend your time and money on... Leave this for me and walk away.
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