How does this sound for an investment opportunity? A company guarantees you have no chance of making a single dollar, yet there are tens of thousands of people lining up to throw money at them.
That’s the situation with the Green Bay Packers, the only publicly-owned team in the NFL. The Pack is getting ready to offer up shares of “ownership” in the team for the sixth time in history, but the stock is flat-out worthless, and investors can’t transfer them except through inheritance.
The Packers are going to start selling 300,000 shares of stock at $300 starting on February 25th. Investors will receive a certificate noting they own a small piece of the club, which fans are more than okay with.
This will be the first time in ten years the Packers are offering up a piece of the team. Back in 2011, they raised $67.4 million, and this time around they will take in $90 million.
The league has strict rules in place, one being the Packers can’t use the money for player salaries. It has to go towards capital improvements. In 2011 the money was used to fix up Lambeau Field.
Add comment