Packer Fans Can Own a Piece of the Packers (Sort Of)
You can buy a share (or more) of the new Green Bay Packers stock offering …
Notice that’s it’s not really a stock offering in the tradition sense …
Shares of stock cannot be resold, except back to the team for a fraction of the original price under limited circumstances. Limited transfer of shares (i.e., to heirs and relatives) is permissible.
Based on the original ‘Articles of Incorporation for the (then) Green Bay Football Corporation’ put into place in 1923, if the Packers franchise was sold, after the payment of all expenses, any remaining funds would go to the Sullivan-Wallen Post of the American Legion in order to build “a proper soldiers’ memorial.” This stipulation was enacted to ensure that the club remained in Green Bay and that there could never be any financial benefit for the shareholder. The beneficiary was changed from the Sullivan-Wallen Post to the Green Bay Packers Foundation on the basis of a shareholder vote at the November 1997 meeting.
You can read the rest of the history of the Packers and how they ended up with this unusual and interesting structure that no other NFL team is allowed to follow.
But for Packer fans, it’s a fun certificate and you can technically say you own a piece of the Packers … it’s $250 a share. You can download the financial PDF to read about your restrictions – and you can buy your “share” here.
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8 December 2011
2 Comments
Anyone want to buy a piece of my mortgage?
Even though I am a Colts fan, it would be neat to be able to say that I am an owner of part of an NFL franchise… payday is Friday… maybe I’ll be able to swing a share… after all, as I have 3 Packers on my fantasy football team (Rogers, Nelson, and the defense), I should show my support for them helping me end up with the number 1 seed in my league.