Report: Packers' next stock sale a ways off
JAN 05, 2013 10:21a ET
After generating $67 million in revenue during the team's fifth stock sale last year, the Green Bay Packers won’t be having another anytime soon.
Green Bay Packers president and CEO Mark Murphy told fans in a phone chat Friday that there in fact will be another stock sale, but it won't come for at least 10 to 15 years, according to the Milwaukee Journal Sentinel.
The revenue from the last sale, which ran from December 2011 through February 2012, is being applied toward the $143 million Lambeau Field project that will add as many as 7,000 seats to the south end zone by next season.
Packers stock isn't like regular stock as the value doesn't increase, there are no dividends and it has no resale value. Stockholders do get voting rights, along with invitations to attend annual meetings where they can meet Packers executives, tour the Packers Hall of Fame and stick around for the kickoff of training camp.
Each share in the last sale cost $250 plus a handling charge and could only be transferred within the buyer's immediate family. The Packers sold roughly 268,000 shares, bringing the total number of current shareholders to about 360,000. Previously, the Packers had sold stock in 1923, 1935, 1950 and 1997.
According to the Journal Sentinel, Murphy also announced a plan to renovate the Lambeau Field Atrium, which would give the Packers Hall of Fame a higher profile than the basement of the stadium.