Green Bay Packers begin selling 'stock'

What do you get from owning a share in the team? Maybe the bigger issue is what you don't get.

By Kim Peterson Dec 6, 2011 3:52PM
Credit: © Leon Halip/Getty Images
Caption: Aaron Rodgers #12 of the Green Bay PackersThe Green Bay Packers began selling 250,000 shares of stock Tuesday, and fans couldn't wait to snap up a little ownership in the team.

About 1,600 online orders came in the first 11 minutes, slowing down the website and frustrating some buyers, the team said. It was the team's first stock sale in 14 years and the fifth in its history.

But there isn't much here that resembles stock. In fact, the team even admits that its common stock "does not constitute an investment in 'stock' in the common sense of the term."

What that means is this: No dividends. No price appreciation. No profit potential. No tax deduction. A limitation of 200 shares per person. No real resale value. Extremely limited transfer rights. And no game tickets, either.

In fact, the $250 per share price tag -- along with the hefty $25 shipping and handling fee -- pretty much gets you a nice certificate and entry into the team's annual shareholders meeting. You get voting rights, but what shareholders will vote on is unclear. Maybe the first voting question will be "Is this team awesome or what?"

The last time the Packers sold stock was in 1997, when it raised $24 million to update Lambeau Field, Bloomberg reports. The team has some 112,000 shareholders owning 4.75 million shares. This time, the Packers want to raise as much as $62.5 million, much of which will go to the $130 million expansion of Lambeau Field.

So who would buy this stock? Die-hard football fans who can say they are a part-owner of a team. And what better time to offer shares than now, when the Super Bowl champs are undefeated with a jaw-dropping winning streak?

And taxpayers can be happy about this: Instead of going to the city or state for a handout, the Packers are asking fans to help pay for Lambeau's expansion.

"It's not the worst thing you could spend your money on," economist Kevin Quinn told the Green Bay Press Gazette. "You'd spend the same amount of money on a team jacket and you can't pass that on to the kids."


36Comments
Dec 6, 2011 6:29PM
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There's a sucker born every minute, unless you're talking about Green Bay, where apparantly the frequency is somewhat higher.

Dec 6, 2011 6:27PM
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This is an infinitely better (and more honest) approach to financing an NFL team's financial shortfalls than most other examples around the league. Take Jacksonville Florida..... Did the fans REALLY want the Jaguars in Jacksonville? Yes they did! Did the fans get an opportunity to "buy" into the teams stadium reno or other needs? No,. they didn't because the city government rolled over and begged like a female dog in heat, while dispatching untold millions of TAXPAYER money to fund the team. All this with absolutely no avenue for any repayment of taxpayer monies. Green Bay's way is the RIGHT way.
Dec 6, 2011 6:27PM
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 No dividends. No price appreciation. No profit potential. No tax deduction. No real resale value. Extremely limited transfer rights. And no game tickets, either.
In fact, the $250 per share price tag -- along with the hefty $25 shipping and handling fee -- pretty much gets you piece of paper and entry into the team's shareholders meeting
.  Embarrassed

So what are you buying for $275?????  Thinking  I have some swamp land I want to sell you!  Need a diet pill?  How about a Nigerian money scheme? Nah it's the PackersParty

You'd be better off putting this money in a 529 for your kids or paying a Christmas bill  you can't afford.  Smile
Dec 6, 2011 6:24PM
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I don't get it.  You want to GIVE money to a multi billion dollar industry in exchange for a piece of paper, while schools across the nation are being closed due to lack of financial support. Sad, very sad.
Dec 6, 2011 6:11PM
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This is a great opportunity to "give back" to a sport that has given so much to so many.  I'm a MN Viking Fan who grew up in Wisconsin.  Many of my friends are Packer fans and over the years we've had great experiences watching the Packer/Viking games live at Lambeau Field or on television.  I love the Packer fans.  I love watching the Vikings beat the Packers!  I LOVED watching Favre beat the Packers in Green Bay as the Viking QB.  Having said all this, I go back to my first sentence.  The Packers, the Community of Green Bay, the State of Wisconsin, and the FANS of football are investing in providing the best place to watch the game played. I'll wear my Viking jersey proudly the next time I'm in Green Bay, but I want to let the Packer fans know that I appreciate everything that organization has done for the game of football and the NFL. I bought a share for myself, a friend, and my stepson.  Go Pack Go!

Dec 6, 2011 6:03PM
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Lighten up! If you have heartburn with this "stock" opportunity then don't participate! It is a unique novelty and will make a great Christmas present for my father who has been a die hard, life long Packer fan. It is a classy way for the city/team to produce cash for stadium growth, and I don't see anywhere where someone is representing it as anything else.
Dec 6, 2011 5:56PM
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Scam?  How is it a scam when the team is upfront about what you can and can't do as a stock owner?  Would you rather they pass a tax levy and make everyone pay for the renovations?  It's a genius idea.

Dec 6, 2011 5:51PM
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I bought a share for my wife; a true die hard Packer fan for Christmas (don't tell her) because I know she would have done the same for me if the Saints ever had this option. This will be framed on the wall so our great-grand kids can own a part of the original NFL someday. That is all the return we will expect! 
Dec 6, 2011 5:45PM
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If you cannot even transfer your ownership of the team to another person, less a few family members, this is nothing more than a money grabbing scam. This is not stock and certainly not ownership. Sure I think the idea of being a partial owner of a team is a whimsical concept, but owning stock in the Packers resembles nothing of actually owning anything. If you have to keep explaining why you just sent money to a wealthy organization for a piece of paper, then you're been lying to yourself for too long.
Dec 6, 2011 5:39PM
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I paid the money for the "loser" stock. I'm going to buy a share for my granddaughter as well. I'm a lifelong Packer fan and am happy to spend the money, knowing I receive no financial return of any sort. It's for the love of this historic, beloved franchise. That's more than enough for me and 112,000-plus others. If we have to explain, you won't understand.
Dec 6, 2011 5:32PM
Dec 6, 2011 5:17PM
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Geez, the Packers could discover the cure for AIDS and people would still bag on them.  So instead of forcing the taxpayers (some of whom may not even be fans) to pay for stadium upgrades (hello, MN Vikings), they are asking true and diehard fans to purchase stock to help their team.  The fact that the stocks will not make money for the "investor" is clearly disclosed.  In return for their "investment" the buyer becomes part owner of the only team that is, has been, or ever will be publicly owned.  It's not about making money for the fans.  It's about being a part of something incredible, which is this storied football team.

 

GO PACK!!

Dec 6, 2011 4:58PM
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The Packers are a profit organization. That is why you can't get a tax deduction. They want to make a profit so they can get new players, updated stadium, etc. The only reason they are doing this is because they need a large sum of money right away. An NFL team a non-profit organization...haha
Dec 6, 2011 4:48PM
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Kinda reminds me of that Simpsons episode, where some Internet company had stock certificates printed on toilet paper.  This stock is obviously worth about the same.
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Doesn't sound like it. This is from the Packers.com site:
Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.

Dec 6, 2011 4:26PM
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Because the Packers are a non-profit organization, and essentially this is a fundraiser...would this be a tax write-off for anyone who purchases?
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