The Green Bay Packers on Thursday reminded the rest of the NFL of what makes them unique, revealing the final tally on their fifth public stock offering.
The stock sale, which gave fans a chance to purchase a share of the franchise for $250, ended Wednesday. Team says 268,000 certificates were sold since the initiative began Dec. 6. Including the team’s previous four offerings, the Packers now have more than 360,000 shareholders.
The latest sale generated a whopping $67 million that will go toward the expansion of Lambeau Field. Roughly 6,700 seats, new video boards and two new gates are scheduled to be ready for the 2013 season.
"The response to the offering by our fans was overwhelming," Packers president Mark Murphy said in a statement. "We enthusiastically welcome our new shareholders from across the country and Canada, as well. We thank them for their support of the stadium expansion that will help us achieve success in the long term, and provide an enhanced game-day experience that will continue to thrill our guests."
The team also revealed Thursday that Wisconsin fans bought roughly 50 percent of the shares in the most recent offering. Residents of Illinois (8.5 percent), California (8.5 percent), Minnesota (5 percent) and Texas (5 percent) were next in line. Canadian Packers fans purchased more than 2,000 shares since the team gave them the green light to purchase certificates in the final 10 days of the offering.
Most of the sales took place in the first 48 hours, fueled by the fan frenzy surrounding the team's 13-0 start. The Packers are the only team in the league permitted to have public ownership, and the stocks hold no resale value, nor are they eligible to produce dividends.
