Just in time for the Holidays, the Green Bay Packers are offering their fans the opportunity to become a stockholder in the only community-owned, non-profit professional sports team in America.
Many a Packers fan will see their dream of team ownership granted this holiday season, at a not-so-inexpensive cost of $250 per “share.” Money received from the stock sale will be used to finance another Lambeau Field expansion project, already underway in some cases.
As a current stockholder, I don’t feel the need to be adding to my “stake”, so instead, I’ll just watch from afar and welcome aboard all my new fellow owners.
Full information will be released on December 6th. Here are the details currently available from Packers.com:
- The price per share will be $250, and there will be a handling charge.
- The offering will be limited to persons in the United States, as well as Guam, Puerto Rico and the U.S. Virgin Islands.
- Until regulators in the states of New Hampshire and Virginia allow the offering to proceed in those states, residents of those states will not be able to purchase shares.
- Shares will be able to be purchased online with credit or debit cards, and also via mail.
- Only individuals (including spouses as joint tenants) will be able to purchase shares.
- The Packers will initially offer 250,000 shares.
- No one may buy more than 200 shares (counting any shares that the person purchased in the 1997-1998 offering).
- The offering will continue until Feb. 29, 2012, subject to extension.
In contemplation of the offering, interested fans should note:
- Stock in the Packers does not constitute an investment in “stock” in the common sense of the term.
- The Packers will have no obligation to repay the amount a buyer pays to purchase Packers stock.
- 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.
- Any offering of Packers stock will only be made through an offering document.
- The Packers believe offerees and purchasers of Packers stock will not receive the protection of securities laws with respect to any offering or sale of Packers stock.
- The Packers bylaws and NFL rules severely restrict transfers of Packers stock.