The Green Bay Packers announced today that the NFL has approved the team to sell team stock, which was last done in 2011 following the Packers’ Super Bowl XLV season. The following quote from team president Mark Murphy was included in the Packers’ statement:
“We appreciate the consideration of Commissioner Goodell and the support from the NFL for our potential stock sale,” Packers President/CEO Mark Murphy said. “Should we proceed with an offering, we would also have to take regulatory steps and other actions. We are exploring such steps and intend to keep our fans informed of further developments when we are able.”
The last time the team sold stock, it was priced at $250 a pop and the funds were used to build a new entrance in the north end of the stadium and for construction of seats to the south end of Lambeau Field. In 1997, the only other time since 1950 when the team has sold stock, shares were priced at $200. If you’re planning on buying or gifting Packers stock, assume it will cost a few Benjamins.
In the team statement, the Packers noted that they are planning on building new video boards and concourse upgrades, which is where the money from stock sales will presumably go. Murphy has talked about replacing the video boards since last season, when he mentioned it in his monthly Q&A column for the Packers’ official website. The Packers’ last major change to their video boards was in 2012, which was in part funded by the stock sale of 2011.
If you’re trying to take control of the team, though, here’s the bad news: The Packers limit any person owning more than 200,000 shares per their website. Tough news for those of you with $50,000,000 lying around.
