Fans of the Green Bay Packers have another chance to buy shares in their beloved NFL team. The Wisconsin franchise is selling $90 million worth of shares to fund improvements at Lambeau Field. But buyers can’t really hope for a big profit.
Green Bay/Munich – Packers fans beware! The Green Bay Packers are selling shares again. Supporters of the NFL franchise can buy shares in their team.
After the approval of the NFL, the sale of the securities starts already on Tuesday at 3 p.m. German time. In total, the Packers are issuing 300,000 shares worth 300 euros each.
The proceeds, totalling 90 million dollars, will be used to support the expansion of the venerable Lambeau Field.
Packers shares: buyers should not expect a profit
The last time the nonprofit corporation that owns the Packers sold stock was in 2011. There have only been four other times share certificates have been available for purchase: in 1923, 1935, 1950 and 1997.
Packers shares, however, do not represent a real investment for potential buyers. “Anyone considering buying Packers shares should not buy the shares to make a profit or to receive a dividend, tax deduction or other economic benefit,” the announcement of the sale said. The shares issued have no underlying and cannot be traded on the open market.
About 5,009,000 Packers shares are currently held by about 361,300 shareholders, the Packers said. Many more holders will now be added.
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