Packers Sell $400,000 in Stock in 11 Minutes

The Green Bay Packers just sold $400,000 worth of stock in 11 minutes today.

There is, however, some downside to owning the Packers. For example, the stock doesn’t pay any dividends and can never be sold. It will never appreciate.

Come to think of it, it’s only downside.

The team is riding their success on the field this year by raising money in this offering. The Packers are trying to sell 250,000 shares at $250 each for a total of $62.5 million. Let’s see how it goes. If you’re interested, you can buy the shares at PackersOwner.com.

Some explanation is needed. This is from a post I wrote on the Packers five years ago:

CNBC’s Darren Rovell has a good story on the business of the Green Bay Packers. Rovell only briefly touches on this, but the Packers are one of the more interesting businesses in America today. The team is organized as a non-profit, community-owned corporation.

There are about 4.7 million shares, but they don’t pay a dividend and they can’t be traded. Think about that. You just buy them and watch. If you want, you can sell the shares back to the team for a teeny amount of money.

The Packer fans are so loyal that they’ve bought shares, and financially rescued the team more than once over the past 80 years.

The team was organized as a community-owned company in 1923. To add some context, this was at the high tide as progressive movement, which found its epicenter in Wisconsin (i.e., the Wisconsin Idea).

In 1924, Senator Robert “Fighting Bob” La Follette, Sr. of Wisconsin ran for president as a third party candidate. He won 17% of the vote and carried his home state.

The senior La Follette died in 1925, but was succeeded by his son, Robert La Follette, Jr., who held the seat until 1946 when he was upset by Joseph McCarthy (with the help of the Communist Party).

Milwaukee was the country’s only large city to have a socialist mayor, or at least, an admitted socialist mayor. In fact, the city had three socialist mayors over 38 years between 1910 and 1960 (would they have nationalized Arnold’s?). The last one died a few weeks ago at the age of 93.

Posted by on December 6th, 2011 at 1:23 pm


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