Move over, Jerry Jones. You're about to have even more company at the owners' meetings.
Well, maybe not.
But, the fact remains that the Green Bay Packers will be making shares of their stock available to all for around $250, ESPN reported this morning. Murmurs of the deal surfaced last month, but it became official today, with Nov. 15 as a target date. Proceeds from the sales will go towards renovations of Lambeau Field, the hallowed venue where the Packers play.
What does this mean for the fans? Well, voting rights are a part of the deal. So yes, if you purchase even so much as one share, your vote will count on team decisions. Of course, it will be split between the other 112,000 shareholders, but it definitely makes for a nice conversation starter.
It's worth noting that the terms of the Packers shares are relatively pedestrian, however. They don't appreciate in value, have no dividends, and can't be resold. For most fans, however, that's not the point.
Green Bay is the NFL's only publicly owned team, which adds even more unique flair to the offering. It's not like Bears or Lions fans have the same opportunity with their respective teams. They can, however, purchase Packers stock if they so desire. But that's another story.
Plus, it's rare that the Green Bay organization puts shares up for sale. According to the Packers website, this will mark just the 5th time in its storied history that they have done so, with the previous years being 1923 (the team's inception), 1935, 1950 and 1997.
So, if you have extra cash on hand and would like a piece of the NFL pie, albeit a small one, now's your chance. It may not offer much in terms of diversifying your portfolio, but it's hard to beat if you're a fan of the game.
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Comments: 2
Casey Mahoney Brad P
They are worth nothing, zilch, nada.
They did this once before, stock...thousands of people bought the piece of paper, put it on the wall...and now shake their heads for wasting money.
My hubby is from WI and a big Packer fan. It is always said, oh owned by the people...if so, then where is the checks from the ticket sells? Clothing, knacks, commercials?
Not once has there been a "public vote" for anything the Packers have done or will do.
Our last papers from the Packers sit in a drawer now collecting dust.