All posts tagged football
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.
Other than the brief reign of Land Shark Stadium, the NFL has largely avoided the rash of absurdly named arenas that have plagued other sports like baseball and college basketball (I’m looking at you, KFC Yum! Center.) A new deal to rename the Oakland-Alameda County Coliseum is set to change that.
The Oakland-Alameda Coliseum Authority announced a deal to rename the home stadium of the Raiders and A’s as Overstock.com Coliseum. The agreement with the Internet retailer will run for six years at a cost of $7.2 million.
Overstock.com Coliseum. Overstocked tickets. Yeah, I can see the connection.
Don’t get used to the name quite yet, though. Overstock is currently in the process of rebranding itself as O.co and has the right to change the name of the stadium to O.co Coliseum at any time, which will inevitably lead to fledgling “SportsCenter” anchors saying stuff like “Darren McFadden is making his O face.”
The whole naming deal may be a gross miscalculation by Overstock.com, as it presupposes that Raiders fans know how to use the Internet and/or have a credit card. (Kidding. The biggest obstacle will be getting past the prison’s web filters.)
Overstock boasts that it offers “a wide variety of high-quality, brand-name merchandise at discount prices.” That’s a good fit with the Raiders, who offer a wide variety of low-quality play at high-end prices.
I was suppose to be at this game with Heat and the Family. Looks Crazy.. Check out the footage.
Jets Won 24-14 (for the record) Heat Scalese at the NFL Playoff game in Cincinnati reppin’ for his NY JETS! Filmed this video pre-kickoff of the Jets vs. Bengals game in the playoffs! Some bengals fans had something to say, at least before the game. Drove 15 hours to watch the JETS big victory!