The only publicly owned franchise in the NFL is, for only the 5th time since 1923, once again offering shares of the team to the public. The team’s attorney sent a letter to the State of Utah’s division of securities with an estimate of $250 per share to be offered to the public starting as soon as tomorrow.
“There are currently 4.8 million shares in the Packers owned by 112,158 different shareholders. Given the estimated $1.1 billion value of the team, according to Forbes magazine, the industry-recognized source of team valuations, each share is worth about $229. Shares cost $200 in the 1997 offering.” -CNN Money
The defending World Champions are technically a not-for-profit organization, so buying stock in the Packers will not make you Jay-Z rich, but shareholders will get quarterly reports, an annual meeting, and a peek at the financial books which is a very taboo subject with NFL teams who have fought vigilantly to keep those books secret. The stock pays no dividends, cannot be sold (only transferred to immediate family members), and appreciates about as drastically as a Dan Quisenberry rookie card.
The goal of this offering is to raise $130 million for Lambeau Field renovations where the Packers will add an additional 6,600 seats to the south end zone.
