Packers plan stock sale, be an NFL owner for $250
The Associated Press
MILWAUKEE- Want a piece of the Green Bay Packers? The Super Bowl champions are about to give you a chance.
The Packers plan a stock sale next week where shares in the NFL's only publicly owned team will be available for $250 each. The stock sale is the fifth in the team's long history and the money raised will help pay for renovations at Lambeau Field.
The stock will be available starting Tuesday at packers.com. Buyers will be able to call themselves NFL owners, though the stock value will not go up and there are no dividends.
Stockholders do get voting rights. And they can attend annual meetings, where they can meet Packers executives, tour the Packers Hall of Fame and stick around for the kickoff of training camp.
The sales will commence on Dec. 6th at 8 a.m. CST.
Following is a list of details currently available:
· 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.
· 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.