The Green Bay Packers celebrate after winning the NFL football game between the Green Bay Packers and the San Francisco 49ers on September 26, 2021 at Levi’s Stadium in Santa Clara, California.
Samuel Stringer | Sportswire icon | Getty Images
Cheeseheads, get your stock here!
Green Bay Packers Tuesday will offer to sell $ 90 million in “stock” of the NFL team to help fund improvements to Lambeau Field, just the sixth time in the team’s rich history that it has donated actions to the public.
The offering of 300,000 shares will begin at 9 am ET on Tuesday, with a price of $ 300 per share, the Packers said in a statement Monday.
The sale, which will run until February 25, was approved at the end of October by the National Football League.
The stock has no underlying value and cannot be traded on open markets.
The last time the public Wisconsin nonprofit company that owns the Packers sold shares was in 2011. Previously, sales of Packer shares took place in 1923, 1935, 1950 and 1997.
“The Packers’ shares do not constitute an investment in ‘stocks’ in the common sense of the word,” the Packers noted in a press release on the offer.
“Anyone considering purchasing Packers shares should not buy the shares for profit or to receive a dividend or tax deduction or any other economic benefit.”
About 5,000,000 Packers shares are currently held by about 361,300 shareholders, according to the team.
Packers CEO Mark Murphy said: “We appreciate the interest fans have expressed in our sixth stock offering.”
“While we are not in a position to fully discuss the offer yet, we have some initial information we can share with fans. We look forward to officially launching the offer tomorrow,” said Murphy.
Buyers of shares must live in the United States, the US Virgin Islands, Puerto Rico, or Guam and cannot purchase more than 200 shares.
Shares purchased by a person under the 1997-1998 and 2011-2012 stock offerings by the Packers are counted against this maximum.
The team said, “More information, including the official offering document, will be available when the offering begins. “
“Interested fans will be able to access the full information tomorrow online at www.packers.com“said the Packers.
The offer was announced a day after Packers star quarterback Aaron Rodgers returned to the Covid-19 reserve roster squad after missing last week’s game to lead the team to a 17-0 victory over the Seattle Seahawks.
After Rodgers was reportedly tested positive for the coronavirus, the Packers were fined $ 300,000 last week by the NFL due to earlier Covid protocol violations by Rodgers while speaking to reporters without a mask as he was not vaccinated.
Rodgers was personally fined $ 14,650 for attending a Halloween party with teammates without wearing a mask.
Rodgers misled the public about his vaccine status in August by saying he was vaccinated and failing to correct subsequent reports that he was vaccinated.
“I made comments that people might have found misleading,” Rodgers told “The Pat McAfee Show” Tuesday. “To anyone who feels misled by these comments, I take full responsibility for these comments.”
The Packers are first in the NFC North divisional standings, at 8-2, tied for best in the NFL.