"We're continuing to prepare for the offering, " said a Packer spokesperson last Monday.
Those words seem to pretty much sum up the impatient wait that Packer Backers are forced to endure these last few weeks.
The last formal announcement stated on or around Nov. 15.
The reality is that the sale is still believed to be offered before the close of the year. Is this perhaps a mess of red tape that is being untangled in the background or even a Christmas ploy? I don't know about you but I think some Packer stock would make a great gift. (Hint, hint.)
This will be the fifth time in the franchise history that Green Bay has issued stock for the team. The last of the sales was in 1997, so we are overdue. With the proceeds from the sale being geared towards the upcoming Lambeau stadium improvements, what better time is there for this to occur?
For those of you who are interested in purchasing stock, be aware 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, unfortunately, and you will never receive any paid dividends. In addition to this, the stocks will not increase in value over time.
As the only publicly owned, non-profit football team, and due to regulations that have since been put into place since, stock ownership in this team is a once-in-a-lifetime opportunity, based solely on bragging rights. At this time 112,158 individuals own the Green Bay Packers, with not one being allowed to own more than 200,000 shares individually. The stocks also cannot be transferred, except to family members.
How much is too much to pay for a share?
Pending the necessary approvals, the decision to go ahead with the sale is contingent on the NFL’s head nod. According to spokesperson Aaron Popkey, they believe that they will 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 would hope to have an offering yet this fall,” Popkey said in September.
Fall is nearing its end, and we are still waiting, impatiently.
There still have not been any announced decisions made as to the number of shares that will be sold. There remain 280,000 shares from the last sale that were approved to offer which the franchise chose not to sell. It is possible and quite likely these will be offered possibly in addition to new shares.
In the instance that these shares were offered in the likely upcoming stock sale, there would be no stock splits for current stock holders.