Earlier this week the Pack announced that they would sell shares of the historic franchise to fans for $250 each. They have a total of 250,000 and started selling them on Tuesday. It’s been two days and the team has sold 185,000 shares. They set a deadline for people to buy them which is February 29th. Clearly all will of them will be gone probably before New Year’s Day.
Now if you’re thinking about getting one of these shares it’s going to cost you $250 like I mentioned earlier but there will be a $25 handling fee. When you get your share you will 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. These shares do not go up or down, there are no dividends, and it has virtually no resale value like a normal share does.
The Packers did a smart selling move of issuing them before Christmas so that fans could get them as gifts or just for themselves. It clearly has turned out to be a success as they have raised a total of $43 million which will go toward their expansion of Lambeau Field which will cost $143 million. At least fans can say they are part owners and helped renovate the stadium which sounds cool.
