GREEN BAY, Wis. (NewsNation Now) — Like an Aaron Rodgers to Davante Adams pass completion, the Green Bay Packers answered many prayers Tuesday and opened up the franchise’s sixth stock sale to date.
Packers fans wanting to personally invest and buy shares in their favorite team now have their first opportunity in a decade to own a piece of “The Pack.”
The Packers are the NFL’s only community-owned team, which means rather than being the property of an individual or corporate entity, they are held as of today by 361,300 stockholding fans.
The Packers said they will sell 300,000 shares at $300 each plus a handling fee.
The sale is limited to people in the United States as well as Guam, Puerto Rico and the U.S. Virgin Islands.
Money raised from the offering will go toward ongoing construction projects at Lambeau Field, including new video boards and concourse upgrades, according to the team.
“Since we received permission from the NFL last month for a stock offering, fans have been excited,” said Packers President/CEO Mark Murphy. “Their support is a key component of our ability to invest in Lambeau Field and maintain it as a top-tier sporting experience, which in turn contributes to the continued success of the franchise.”
The Packers’ previous stock sales were in 1923, 1935, 1950, 1997 and 2011.
Potential investors should keep in mind that owning stock in the Packers doesn’t constitute an investment in the common usage of the term.
The team has no obligation to repay the amount a buyer pays to purchase Packers stock. The Packers say anyone considering whether to buy stock in the team shouldn’t make the purchase in the interest of making a profit or receiving a dividend or tax deduction.
Shares can be purchased online with credit cards, debit cards or electronic bank transfers. They’re also available by mail with a personal check or cashier’s check.
The offering document and purchasing information are available online at www.packersstock.com.
The Associated Press contributed to this report.