Want to be NFL owner? Packers near 5th stock sale

[Michael82]

The Green Bay Packers, the NFL’s only publicly owned team, are moving toward a new stock sale by the end of the year to raise money that would help pay for $130 million in renovations at historic Lambeau Field.

Each share would likely cost about $200 and include voting rights, though the value wouldn’t appreciate and there would be no dividends. Stockholders would be able to attend annual meetings at Lambeau, and they’d enjoy such perks as tours of the playing field and locker rooms.

Best of all, they could legitimately call themselves NFL owners.

That last reason seals the deal for Staughton Wade, 29, a lifelong Indianapolis Colts fan.

“I’d absolutely buy a share,” said Wade, of Fort Wayne, Ind. “It’s a unique thing having the opportunity to buy a share of any NFL team, and the Packers are the only team you can do that with.”

http://sports.yahoo.com/nfl/news?slug=ap-packers-stocksale

[Michael82]

I don't know about you guys, but I'd definitely be down for buying a share. If only we could do with Buffalo. I'm sure fans would happily help pay to renovate the stadium to keep the team in Buffalo.

[B-DON]

I have no doubt this would work for Buffalo but the NFL will never ever let that happen again.

[Lexwhat]

To me, the shares mean nothing. Can't sell them away, can't trade them, they don't appreciate, and you'll never get any (real) benefits from owning a share.

Explain to me how you're actually "owning" a piece of the team, but you can't ever do anything with your share. A real "owner" WOULD be allowed to do all of the above.

You're basically giving away $200 for nothing. What a gimmick / joke.

[Ed]

To me, the shares mean nothing. Can't sell them away, can't trade them, they don't appreciate, and you'll never get any (real) benefits from owning a share.

Explain to me how you're actually "owning" a piece of the team, but you can't ever do anything with your share. A real "owner" WOULD be allowed to do all of the above.

You're basically giving away $200 for nothing. What a gimmick / joke.
Exactly, it's just a tax for the stupid.

[ajsdx]

you can't sell your share?

EDIT: just looked it up -- you can sell your share back to the team (for the same price), but not to anyone else.

[El Guapo]

It's really nothing more than a piece of sports memorabilia. Something to hang on the wall in the man cave.

[RedEyE]

The only thing that confuses me is what would keep any self made billionaire interested in owning a team in the NFL, or any major corporation for that matter interested in owning a piece of the NFL, from going out and buying up 51%?

[El Guapo]

The only thing that confuses me is what would keep any self made billionaire interested in owning a team in the NFL, or any major corporation for that matter interested in owning a piece of the NFL, from going out and buying up 51%?

There are restrictions on the transfer of shares, so you couldn't buy shares already owned. Further, I doubt this offering would in any way constitute a majority of shares after the sale.

I can't cite a source here, but from what I remember (just hearing stuff on television and the radio), but while the owners may have some voting rights, like electing the board, they have no say in the day-to-day operations. Someone correct me if I am wrong here.

[Lexwhat]

To protect against someone taking control of the team, the articles of incorporation prohibit any person from owning more than 200,000 shares.

http://www.packers.com/community/shareholders.html

A total of 4,750,937 shares is owned by 112,158 stockholders none of whom receives any dividend on the initial investment.

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 tax deduction or any other economic benefits.

Any offering of Packers stock will only be made through an offering document. 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.

[RedEyE]

Thanks Gents!