International fans were figuring it out, as evidenced by postings on the U.K. Any mailings would go to that address or any other designated address in the U.S. Emails, of course, could go anywhere. It is worth noting, for potential international buyers, that the sales process requires an address in an approved country, which right now is the United States.
In some places, such as the European Union, regulatory approval is an extraordinarily complex process, while other countries said "no" outright, or, as with some of the American territories, don't even have a mechanism for approval. It's probably not likely we'll get approval anywhere else." Murphy said he received a lot of questions about international sales. "We are pretty optimistic we'll be able to sell shares in Canada. The team was eventually able to sell in Canada during the 2011 sale. Marissa Meli, Packers associate general counsel, said the team sought approval in Canada as well and is awaiting a decision. The sale is approved in all 50 states, Washington, D.C., and the American territories of Guam, Puerto Rico and the U.S.
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Shareholders do get to vote on the Packers board of directors and other proposals during the annual meeting held at Lambeau Field in July, and also have access to shareholder-only merchandise through the Packers Pro Shop.
The stock does not pay dividends and it cannot be publicly sold.
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"We take great pride in having the best fan experience in all of professional sports and these investments are crucial to that."Īnother criticism of the sale is that buyers get nothing for their money. "One of our goals is to not have to utilize any public tax money in the future," he said, repeating a promise that was made when the sales tax was passed for the 2003 renovation. The team made about $500 million in additional investments without the aid of another public tax, Murphy said. The Packers' $295 million renovation of Lambeau Field in 2003 was supported by a $24 million stock sale and a half-cent sales tax in Brown County. The Packers do not have a deep-pockets owner and are at the league average on ticket prices, so the stock sale is another way to raise money to invest in Lambeau Field, he said. Murphy said purchases are voluntary and fans realize it is a way to support the organization and improve the fan experience. RELATED: Green Bay Packers have better teams than Chicago on schedule, but Bears game is most expensive ticket RELATED: Do you know a diehard Packers fan? The Packers FAN Hall of Fame is now accepting nominations for its 2022 honoree "That's really for unprecedented times where we run into big issues." We really view that as truly for emergencies," Murphy said. "We do have a healthy corporate reserve fund that has grown over the years. The team reported $507 million in revenue for the pre-pandemic year that ended in March 2020 and said it had a corporate reserve fund of $491 million. Murphy defended the sale against criticism that the Packers are rich enough they don't need the money. "We don't have a wealthy owner, but we have tremendously loyal fans and shareholders who have a vested interest in the organization," Murphy said. "We don't really have a specific (goal) in mind." This sale, if all shares are sold, will raise $90 million, which Murphy said will go toward $250 million in Lambeau Field projects, including concourse renovation and new digital video scoreboards.
In the end, the Packers sold 269,000 shares and raised $67.4 million. During the 2011 sale, the team offered 250,000 shares at $250 each and added another 30,000 after about three weeks.
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The Packers are offering 300,000 shares in the team at $300 a share plus a handling fee until Feb. "I never cease to be surprised by our fans and the support we have," said Packers President and CEO Mark Murphy. Dillon others lamenting their inability to buy shares because they live overseas and yet others, mostly not Packers fans, criticizing the entire idea. Social media sites were abuzz with people trumpeting their purchases, including apparently Green Bay Packers running back A.J. In both sales, 11% of shares were sold during the first three hours. start, causing long wait times on the website, but no system crashes, as happened during the last stock sale in 2011. GREEN BAY – The Green Bay Packers sold more than 33,000 shares Tuesday during the first three hours of their sixth stock sale, and 83,000 shares, or $25 million worth, by the end of the first half-day.Įager Packers fans jumped on the 8 a.m. Watch Video: Packers will use stock sale for continued upgrades at Lambeau Field
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