Packers sell roughly two thirds of available shares in latest stock offering

NFL: JAN 02 Vikings at Packers
Getty Images

The glass is either two-thirds full. Or one-third empty. Either way, it’s not full.

The Packers announced on Thursday that they sold “more than 198,000 shares” at $300 each, in their latest stock offering. Along the way, the Packers added 176,160 new shareholders.

But here’s the rest of the story. The Packers offered 300,000 total shares. So they sold fewer than two thirds of the available shares.

It’s unclear whether they projected or expected to sell more than 66 percent of the shares. Regardless, they didn’t. More than 100,000 shares went unsold. Unclaimed. To the extent that their non-stock stock is a money-for-nothing proposition for the Packers, for one of every three available shares, they got nothing for nothing.

The Packers claim that $65.8 million was raised, the math (198,000 times $300) suggests $59.4 million. The higher number apparently comes from the $35-per-share “handling fee” for creation of the piece of paper documenting the non-transferable share of stock.

14 responses to “Packers sell roughly two thirds of available shares in latest stock offering

  1. Look at this way: They were able to rip off 198,000 people that they hadn’t already ripped off. That’s pretty amazing.

  2. The Packers can’t sell personal seat licenses because their stadium doesn’t have seats. Just hard aluminum benches. If you get up, your space on the bench disappears.

  3. I love how fans of a team that forced them to “donate” to their stadium’s construction through unconstitutional taxation have all kinds of opinions about the fact that Packer fans willingly gave their team $65 million

  4. Kwesi Adopho-Mensah is a Magician says:
    March 10, 2022 at 7:04 pm

    Look at this way: They were able to rip off 198,000 people that they hadn’t already ripped off.
    +++++
    According to the article, The Packers added 176,160 new shareholders.

  5. Green Bay fans, why?
    ===========

    Whats the difference between buying Packers ‘stock’, or a jersey, cap, hoodie??

    And you should probably do a little light reading about the work that has gone on around the stadium district the last 30 years. Fueled considerably by these ‘stock’ sales.

  6. these stock sales are a black eye to every Brown county citizen who had their sales taxes taken by by Packers

  7. “The Packers can’t sell personal seat licenses because their stadium doesn’t have seats. Just hard aluminum benches. If you get up, your space on the bench disappears.”

    Wrong. Seat licenses at Lambeau Field are $1200 ea. for the “Green Package” (6 home games/1 preseason game), and $600 ea. for the “Gold Package” (former Milwaukee County Stadium ticket holders — 2 home games/1 preseason game. The extra home game this year is in London).

    You get the seat license fee back when you give up your season tickets (or your family does when you’re dead).

  8. The stock sale proceeds can ONLY be used for capital expenditures on Lambeau Field itself.

  9. A recent effort to disband the Stadium District and distribute the assets to taxpayers was dissolved. Politicians, team executives, taxpayers, and stockholders alike all prefer it just the way it is. There are now over 500,000 Packer stockholder fans around the world, all voluntarily supporting the team of their choice without further burdening local citizenry who may not be interested in sports. The level of love for this team and voluntary support is amazing. It’s unprecedented in professional sports. Taxpayers should thank all Packer fan stockholders for improving the community without burdening other city-services for lack of funds. Impressive. I’d like to see the Vikings demonstrate a money-making and voluntary team-support effort with their souvenir Legacy Bricks. As Matt Birk would say, they just aren’t trying hard enough.

Leave a Reply

You must be logged in to leave a comment. Not a member? Register now!

This site uses Akismet to reduce spam. Learn how your comment data is processed.