Packers latest stock sale commences

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For the sixth time in franchise history, the Packers are selling stock. This time around, the goal is to raise money for improvements to Lambeau Field, “including by installing HD video boards and making concourse improvements.”

If all 300,000 shares are sold at $300 each, they’ll raise $90 million. Which should buy some really nice video boards and allow for the floors of the concourse to be coated in diamonds.

With the latest offering, the total amount of Packers shares will grow to 5.3095 million. Which means that, if you own one share, you own 0.000019 percent of the company.

But it’s not really stock. It’s a donation. And, as the offering document reveals, it also becomes a potential source of very real liability for anyone who dares criticize the NFL or its member teams.

Before delving into the nuances of fine print that will induce potential puckering for people in the media who are tempted to buy a share, it’s important to point out the stuff that the Packers placed in all caps. (We’ve opted for normal letters, since using all caps is basically screaming into someone’s eyeballs.)

“Common stock does not constitute an investment in ‘stock’ in the common sense of the term,” the offering document explains. “Purchasers should not purchase common stock with the purpose of making a profit. Particularly in light of the transfer restrictions and redemption rights of the corporation described in this offering document, it is virtually impossible for anyone to realize a profit on a purchase of common stock or even to recoup the amount initially paid to acquire such common stock.”

The offering document also explains that it hasn’t been “approved or recommended by the” the Securities and Exchange Commission. Also, “[t]he corporation believes offerees and purchasers of common stock will not receive the protection of federal, state, or international securities laws with respect to the offering of common stock.”

So it’s really, truly, absolutely not stock. It’s a donation, with very little benefit or influence in return.

“As was the case in connection with earlier offerings of Common Stock, purchasers of Common Stock will not truly participate in the Corporation’s economic fortunes,” the offering document explains. “As noted above, it is virtually impossible for anyone to recoup the amount initially paid to acquire Common Stock due, among other things, to transfer restrictions and Common Stock repurchase rights of the Corporation.”

And even though the shares cost $300 each, they are “involuntarily redeemable” at $0.025 per share, if the Board of Directors learns that the shareholder cannot be located after at least five years since last contact with the corporation.

But here’s the kicker. The clause that caused me to think twice about buying a share — even though I’m ready to do so, after securing all appropriate approvals from Mrs. PFT for spending $300 (plus a $35 “handling fee”) for a piece of paper to be framed on the wall in the PFT barn.

“The NFL Rules prohibit conduct by shareholders of NFL member clubs that is detrimental to the NFL, including, among other things, . . . publicly criticizing any NFL member club or its management, employees or coaches or any football official employed by the NFL,” the offering document explains. “If the Commissioner of the NFL (the ‘Commissioner’) decides that a shareholder of an NFL member club has been guilty of conduct detrimental to the welfare of the NFL then, among other things, the Commissioner has the authority to fine such shareholder up to $500,000 and/or require such shareholder to sell his or her stock.”

It would be fun (or maybe another word) to chronicle the efforts of the Commissioner to potentially fining me up to $500,000 for criticizing Roger Goodell or Jeff Pash or any specific owners or teams or officials or coaches or whatever. It also would be fun to see them try to collect the money.

On one hand, it’s a stupid boilerplate provision that will never actually be enforced. On the other hand, it’s in the document, and it’s apparently there for a reason.

The devil on one shoulder is currently battling with the angel on the other. In the end, I’ll still do it. And if I get fined $500,000, I’ll just sell some non-stock stock in PFT for the purposes of raising the money. Maybe I’ll include a provision in the offering document allowing me to fine any PFT shareholder up to $500,000 for criticizing PFT.

82 responses to “Packers latest stock sale commences

  1. This time around, the goal is to raise money for improvements to Lambeau Field, “including by installing HD video boards and making concourse improvements.”

    correct me if I’m wrong but I believe EVERY time there’s been a souvenir stock sale, it’s been to raise money for stadium renovations and/or improvements. I think it’s actually the ONLY reason the souvenir stock CAN be sold, by rule.

    And before all the financial geniuses jump in, yes, we know it’s worthless as tradeable stock. It’s simply a piece of memorabilia. It’s just one that will pass down from generation to generation, while all the $300 beer-stained Trubisky and Ponder jerseys rot away in the bargain bin at the Salvation Army Store.

  2. Pretty cool collectible for fans of the team. And – yes – we all know it does not make us actual owners of the teams. But it does make us supporters of our team with a one-of-a-kind sports collectible. Go Pack Go!!

  3. It’s the only fanbase that can literally say “we” on gameday. It isn’t worthless fish wrap any more than the purple official NFL Moss jerseys collecting dust in closets throughout Minnesota. Close to the same price too. The only difference is it can be framed and hung on the wall, forever.

  4. Now that’s hilarious to see that language is in there. They got you this time Florio! I’m sure I’ve unknowingly agreed to much worse in my apple terms and conditions.
    And for those who will criticize the fact that the stock is worthless- at least it comes with peace of mind that the money is helping the cause, and that it’s coming from actual fans instead of shady billionaires.

  5. This is the way that it should be done. Instead of forcing taxpayers who aren’t fans of the team (and won’t use the facilities) to pay for stadiums/improvements, let the fans who actually use the facilities donate to the cause.

  6. Buy today and you will get 1 blade of grass at Lambeau field!!! Hurry ..this offer won’t last long!!!

  7. You know, you could just SAY you own stock in the Packers. Betting your friends won’t ask for the piece of paper to prove it. But instead, you need to give MORE or your money to a guy who was already capable of writing a check, today, to cover those expenses.

  8. to be honest, that’s a heck of a lot better option than trying to get the entire city of green bay to pay for it.

  9. Willful, voluntary donation > taxation of general public & threats to skip town. Packer fans have a smart system – they’re not robbed by politicians and billionaires for stadium boondoggles. I’ve always admired their setup.

  10. Packers stock is a GREAT investment — it guarantees the team will NEVER leave Green Bay, and never be at the mercy of a high maintenance owner.

    That combination is priceless!

  11. I personally know three people who have donated money to the Packers. They will fight to the death claiming that they own part of the team. It’s quite pathetic.

  12. Counterpoint. How do you think billionaire Jerry Jones funded his stadium being built? The citizens of Arlington paid $325 million while Jerry pays 2.5 million per year to operate. You can make fun of the phony stock but at least the only buyers are Packers fans while plenty of people in Arlington could disagree and still have their tax dollars sent there.

  13. Danielle K says:
    November 16, 2021 at 12:13 pm
    A lot of stupid people sending money to an NFL team


    I bet you look GREAT in your $300 Jay Cutler or Adrian Peterson jersey.

  14. It’s not surprising at all that Packers fans are gullible enough to fall for this obvious money grab, but then it’s the same people who greeted Aaron with open arms after he blatantly lied about COVID and endangered the very fans who obviously adore him.

  15. Cowboys and several other teams charged fans $400 for an engraved brick to be laid somewhere on their team’s stadium campus to help fund the team and fans obliged.

    So WE fans have our memorabilia hanging on our walls, the rest have theirs at the stadium. Meanwhile OUR smalltown team is on the top 10 list of most-valuable teams (even higher than the Bears) and as such, WE share our revenue with the poorer teams via the league’s revenue sharing policy.

    Not bad for the smallest pro sports venue in the country.

  16. gbpforme says:
    November 16, 2021 at 12:57 pm
    So much jealousy on here! Why should anyone be concerned how I spend my money?


    Not only that, but it seems that the Packers have been very good for the economy – so fans who choose to give can afford it.

  17. And more fools part with their money and think they own the Packers. Suckers are born everyday. This money is to make up for losses suffered during last year due to minimal attendance. Thats what the money is really for.

  18. In 2020, the revenue of all 32 NFL teams added up to 12.2 billion U.S. dollars. And that was before the new tv contracts.

  19. Danielle K says:
    November 16, 2021 at 12:13 pm
    A lot of stupid people sending money to an NFL team


    So you’ve never been to an NFL game? You should go, it’s a helluva good time. Or……..oh, you’re saying everyone else is stupid except you. Got it.

  20. Just in time for Christmas, of course. But, a 1/10th blade of grass from the field would have more value.

    How about PFTCoin?

  21. Go for it Florio! Heck, even if they do try to impose such a fine, just think of all the media hype it would create for you and PFT!!
    While at it, buy a share for Simms for the same reason 🙂

  22. I’ll never understand the amount of pointed criticism when it comes to the Packers’ stock sales.

    The Green Bay Packers incorporating themselves is a unique American story and was vital in their history, without that decision this team would never have been viable in Green Bay and would no longer exist.
    Despite the amount of early on the field success, they just had no means to compete with the well heeled owners in Chicago, New York and Boston.

    Packer fans, through their generosity, literally saved the life of the team they loved during its infancy, through a Great Depression, and even during some of the NFL’s more turbulent years.

    And this idea that just gullible local Packer fans buy the current shares is laughable.
    Stock has been purchased in all 50 States, bought up by celebrities, sports stars, politicians and members of the media, just like Mike.

    The stocks also ensure that the Packers can never leave Green Bay and the community it now serves.
    It’s written right in the by-laws.
    I personally own 3 shares (1950) stock passed down to me through family.
    They are beautiful.
    One, framed, hangs in my office and two I keep in a safe deposit box.
    Ridicule them all you want, but I know that without these “worthless” pieces of paper, my favorite team would no longer exist.
    Along with many memories and experiences with friends and family throughout my lifetime.
    This includes many family trips and even a couple of Super Bowls I was lucky enough to attend.
    To me, the stock is priceless.

    Lastly, I would just like to offer a hearty hand to my friend, Mike Florio, Welcome Aboard.
    It’s much more pleasant on this side, enjoy the sun.

  23. So in other words, I own a piece of the Packers as much as a guy who gave them $300? Great! I feel like I made the right decision in this one.

  24. Well it won’t quite be $90 million….. $300K of that still needs to go to the NFL because of Rodgers…..

  25. So what is happening with all the money the Packers make every year? Why don’t they use that money to upgrade their stadium?

  26. Mines on the wall of my office framed in wood from the Lambeau Field original bleachers. I know–you dont get it.

  27. Packer fan since I was born,1955. No tells me how to spend my money and I choose not to be an owner and I don’t buy Packer gear either my wife does though. If someone does have at it. I did have to pay for Miller park though even when I’am a Cub fan. Guess which choice I’am for?

  28. Where is the $90 Million exactly going?

    The Greater Green Bay Habitat for Humanity brought in an average of $1.1 Million each year in “contributions” from 2011 to 2020.

    If annual inflation stayed around 2.5%, $90 Million today could satisfy those contributions for over 40 years!!

    The more you know…

  29. It would appear all those brown county tax dollars that went to the Packers that were supposed to be more than enough to renovate and maintain the Packer’s facilities ha’ve not been spent well

  30. When the original Browns left town, a lot of us diehards embraced the Packers because they can’t leave their community. It’s the other 31 team cities who are the suckers and I hope none of you ever live through the sucker punch of a move.

  31. Some dude keeps his Packers “stock” in a safe deposit box? Wonder if he keeps a copy of Monopoly in there, too, since that game comes with so much cash money.

  32. Funny listening to fans of other teams mock the Packers, as you conveniently forget that your tax dollars have funded a billionaires play pen.

  33. For the record, there are individual game tickets at SoFi stadium with a retail price over 10X the price of a share of the Packers. If Kroenke sold “honorary Rams owner” stock, of no real value, he’d be able to charge enough, to make enough, to pay off the City of St. Louis with money to spare.

  34. Money well-spent. Ignore the potshots from crackpots. The limited tax was a resounding success. This latest stock sale will keep Lambeau among the best professional sports entertainment complexes in the country. Brown County voters approved the 0.5% sales tax on Sept. 12, 2000. The tax, which was retired early in September 2015, provided $309.5 million to the Green Bay-Brown County Professional Football Stadium District, an average of $20.6 million per year. The income was as high as $24.6 million in 2014 and as low as $17.1 million in 2001. None the funds went directly to the Packers for operational expenses. Paul Jadin, who was mayor of Green Bay at the time, said the renovation of Lambeau Field was an unequivocal success. Nothing else in the state comes close, including the Brewers’ Miller Park and the Bucks’ Fiserv Forum, which he also praised as high-quality projects.

    “Looking back 20 years, I’d be very comfortable saying Bob delivered about as well as any project has delivered,” Jadin said. “Obviously, you can point to that vote and the outcome of the development of the stadium from there. It was the kickoff to everything that happened.”

  35. I own a share of packers stock and I can say with out a doubt that roger Goodell is a clown

  36. For the record, I’m an owner and I’m making a motion to CUT A-Aron and move ahead with a less ego-centric QB.

  37. You know they put people in jail for selling worthless stock, but if people want to pay $300 for a worthless piece of paper, then good for them.

  38. It’s a harmless little fiction that allows the “owner” a funny little anecdote or conversation starter. Many years ago, I played rugby union for a university club team while on a study abroad program in South Africa; for whatever reason, the starters on the 1st team got R100 per game, starters on 2nd team got R75 and 3rds got R50. I wasn’t very good or anything, being unfamiliar with the game, but I was big, and it’s a sport with an bottomless appetite for “fatties”, as they were affectionately called. So, due to my mass, I started at tighthead prop for 3rds and eventually 2nds for much of the season. The money meant nothing to me, I always spent the whole thing that same night buying drinks at the clubhouse bar for teammates, but I WAS paid for playing a game, and you had better believe I jokingly refer to my time as a “pro athlete” 20 years later, much the same way these folks are “owners”.

  39. The money was used to pay for $160 million in bonding for the $295 million renovation of Lambeau Field in 2003, and to provide the Green Bay Packers with a capped amount of maintenance and operations reimbursement annually through the end of the lease in 2031. ___
    Is it 2031 already? Either the packers mismanaged the tax dollars given to them or they just want to bilk more money from their fans.

  40. Viking Fan Blames Officials…..Everybody Drink – in fact your three shares of Packer stock is work 3,000 shares of 1997 or 2011 or 2021 stock. When the Packers decided to sell stock in 1997 they diluted the new shares to make them provide less equity than the previous shares. And for someone who holds 1923 or 1935 shares, I think those are actually equal to 10,000 shares of 1997 or 2011 or 2021 stock. Thus, a shareholder with a combined total of 200 shares of 1997 or 2011 or 2021 stock (the maximum you could hold) doesn’t even come close to a shareholder who has one share of 1923, 1935, or 1950 stock.

  41. touchback6 says:
    November 16, 2021 at 5:06 pm

    Does it come with a mason jar full of air from Lambeau?


    No, but I did purchase Lambeau Field sod when the field sod was replaced back in the 1990’s. Oh, and the money from the sod sale went to charity, not the Packers.

  42. Apparently some people STILL can’t figure out that these ‘donations’, which is what they are have kept the Packers viable as the smallest community of all American sports franchises.

    This is a COMMON and LEGAL tool for non-profits to raise money. Public TV and radio do it all the time. They even get some government funding, unlike the Packers. You CAN make the argument that the Packers are exempt from taxation which is like a govt. donation, thanks to the taxpayers.

    Due to their success, the Packers do have money available. But during the low points in the 1950’s there was talk of having the franchise leave. What fuels these anti-Packer rants is the success the team has had, unlike other North division rivals.

  43. Is it 2031 already? Either the packers mismanaged the tax dollars given to them or they just want to bilk more money from their fans.


    So what.

  44. Seems like some people just need to criticize others because, I suppose, there’s a forum to do so. I’m not a Packers fan, but I have no issue with people buying these stocks if it makes them happy or feel good about their team.

  45. antivaxxerssuck says:
    November 16, 2021 at 3:27 pm

    Some dude keeps his Packers “stock” in a safe deposit box? Wonder if he keeps a copy of Monopoly in there, too, since that game comes with so much cash money.
    I do keep my stock certificates safe and tucked away with a handful of other valuables and family heirlooms.
    No board games, just to satisfy your curiosity. 😃

    They’re currently 71 year old documents that weren’t necessarily in pristine condition when they were given to me.
    But I’d like to keep them in their current shape for when I pass them along to other family members. Eventually.

    It’s kind of like the Packer season tickets that get passed down over the years.
    It’s an amazing generational connection that I’m sure a lot of fan bases don’t quite understand. 😉

  46. Mike, think of it as a three-fer.

    1. You own the Packers, thus
    2. You indirectly own Aaron Rogers.
    3. And we all know Aaron OWNS the Chicago Bears, so by the transitive property you also own the Bears?

    Not a bad investment.

  47. I’m guessing fans of many teams would be thrilled to pay $300 for ‘worthless pieces of paper’ if it meant their team could never be moved, and their city/state never held hostage by a billionaire owner.

  48. It’s great fun if you don’t live too far away. You get to attend the annual shareholders meeting in Lambeau and afterwards get to buy exclusive (and overpriced) Packers shareholder stuff. We know the stock is worthless, but we enjoy the big party with fellow Packers fans. And we criticize Goodell, the Front Office, the coaches, and the players as much as we like. I wish other fans could experience a similar experience.

  49. It’s not stock. If you pay 300 dollars for this you’re not smart. Heck for 50 bucks to my Venmo I’ll make you the exact same cert. Without the fine print. It will be just as valuable.

  50. It’s not stock. If you pay 300 dollars for this you’re not smart. Heck for 50 bucks to my Venmo I’ll make you the exact same cert. Without the fine print. It will be just as valuable.

    Okay Boomer

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