Although in a self-imposed quiet period, the team is 5-0 for the seventh time in franchise history. Each of the previous six, the Packers went on to win an NFL title.
A word of caution: the team restricts resale and has restrictions on of transfer the stock. There is no public market. Because of that the certs trade as scripophily, see below.
From the Milwaukee Journal-Sentinel:
Packers' stock sale approved by NFL
The Green Bay Packers have received NFL approval to conduct a stock sale to help pay for the team's $143 million expansion project at Lambeau Field.
In a statement, the NFL said Commissioner Roger Goodell determined that the stock sale "meets the appropriate conditions established in 1997 for such a sale in order to raise funds for stadium renovation."
On Tuesday in Houston, NFL owners will be briefed on the Packers plan, but there is no ownership vote required.
The NFL statement said the Packers have an atypical ownership structure that is "grandfathered."
"In connection with the club's last proposed stock sale in 1997, our office determined that the Packers are entitled to sell stock for certain purposes consistent with the 'grandfather,' namely for capital raising purposes such as stadium improvements.
"The proceeds of the stock sale are required to be segregated from other funds and only used for that purpose. In this case, the Packers are planning to sell shares that were authorized, but not sold, in 1997.
Jason Wied, the Packers' vice president of administration and general counsel, issued this statement: "The Packers appreciate the NFL's review of our information relating to a potential stock sale. Proceeding with a stock sale would also involve regulatory steps and other actions, which we are exploring. We intend to keep our fans informed of further developments to the greatest extent possible."From the team's website:
Regulatory approval would be needed through the federal Securities & Exchange Commission, and at the state level....MORE
Here's one of the 1923 certificates which was offered at auction with a reserve of $400.ShareholdersGreen Bay Packers, Inc., has been a publicly owned, nonprofit corporation since Aug. 18, 1923, when original articles of
incorporation were filed with Wisconsin’s secretary of state.
A total of 4,750,937 shares is owned by 112,158 stockholders —
none of whom receives any dividend on the initial investment.
The corporation is governed by a board of directors and a seven member executive committee.
One of the more remarkable business stories in American history,
the team is kept viable by its shareholders — its unselfish fans. Even more incredible, the Packers have survived during the current era, permeated by free agency and the NFL salary cap. And, thanks in large part to Brown County’s passage of the 2000 Lambeau Field
referendum, the club will remain solvent and highly competitive well
into the future due to its redeveloped stadium.
Fans have come to the team’s financial rescue on several occasions, including four previous stock sales: 1923, 1935, 1950 and 1997.
To protect against someone taking control of the team, the
articles of incorporation prohibit any person from owning more than
It was hammered down at $3780: