The Green Bay Packers are doing some crazy things.
Green Bay Packers officials announced Thursday that team officials sold $41.2 million in stock through their sixth investment offering in franchise history, an impressive 600 percent increase over the last offering in 2015.
The offering, which began on Aug. 7, featured 184 preferred shares of $2,000 each. Participants that purchase more than $30,000 in stock will receive the option to purchase preferred share for the same price — $2,000 each — which doubles the amount of the transaction and accounts for their larger portion of the purchase.
With the new offering, the total number of shares outstanding in the Packers is now valued at $125.4 million.
“This is a great reflection of the Green Bay Packers’ history and future as we look to consistently maximize value for our passionate fans and franchise, which is why we are pleased with the response to this offering,” Jim Tracy, chairman of the Green Bay Packers Foundation, said in a statement released by the team. “We continue to see tremendous excitement and excitement among our fans for this offering, and we are excited to share the success with the Green Bay community.”
The Packers will raise $40.1 million when the transaction is completely completed, according to BusinessWire.
“The Green Bay Packers’ stock offering represents a major step in the team’s continued efforts to create an ownership culture where fans have a voice in helping to determine the direction of the Packers organization,” Packers President and CEO Mark Murphy said in a statement released by the team. “We thank all of our fans and community supporters for their continued support of our organization, and we look forward to getting this offering completed and seeing the first Packers’ share go into the hands of an active fan.”
Purchasing shares comes with great perks, including exclusive access to events, special benefits and opportunities, and other perks such as personalised collateral material for awards and memorabilia to be sent to event guests, according to the team.
One benefits program the team is particularly proud of is the purchasing option, which offers participants the opportunity to earn and use Packers Club Credit (CapCards), whose value increases on a yearly basis.
Ownership in the Packers also comes with the option to have a hand in shaping future Packers future by being a member of the board of directors.
If the Packers are sold below their current valuation, the proceeds will be placed into a frozen capital program, according to the team’s website.
There are 1,400 registered Packers stockholders of which more than 400 are current fans that have sold 1,267,815 shares. The remaining 319 registered shareholders hold less than 100 shares.
On average, each registered stockholder sold $3,448.17 in stock.
The low $2,000 price, an increase of $50 from the last offering, was reached after extensive analysis of the market and stock valuations by financial advisers including Raben Financial Corp., according to the team’s website.
As the price is assigned to each share by the Packers and their bankers, it varies depending on the stockholder’s age, investments, net worth and other factors.
The Packers began offering shares to fans in 1967. The team has been playing in Lambeau Field since 1950.
™ & © 2011 Cable News Network, Inc., a Time Warner Company. All rights reserved.