Green Bay Packers to Sell $90M of Stock in NFL Team

Wall Street learned this week that the NFL team Green Bay Packers is going to sell $90 million worth of stock in its team.

The sale of the stock will allow the pro football team to help fund improvements at Lambeau Field. This would be the sixth time in the NFL squad’s storied history that it has offered shares to the public.

The announcement of the offering came a day after team quarterback Aaron Rodgers returned from a Covid reserve list to lead the team to a 17-0 victory over the Seattle Seahawks.

The Packers had been fined $300,000 by the NFL because of Rodgers’ earlier violations of Covid protocol by speaking to reporters without a mask while not being vaccinated.

The offering of 300,000 shares began at 9 a.m. ET Tuesday, with a price of $300 per share.

The sale will run through Feb. 25th and was approved in late October by the National Football League.

The stock has no underlying value and cannot be traded on open markets.

The last time that the publicly owned, nonprofit Wisconsin corporation that owns the Packers sold shares was back in 2011. Earlier stock sales also occurred in 1923, 1935, 1950 and 1997.

“Stock in the Packers does not constitute an investment in ‘stock’ in the common sense of the term,” the Packers said,

“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.”
About 5,009,000 shares of Packers stock are currently held by about 361,300 stockholders, according to the team.

Packers CEO Mark Murphy said, “We appreciate the interest that fans have expressed in our sixth stock offering.”

“While we are not yet in a position to fully discuss the offering, we do have some initial information that we can share for fans to consider. We look forward to formally launching the offering tomorrow,” Murphy added.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.