Packers inundated with orders after opening stock sale
The stock sale for the Green Bay Packers got off to a flying start this morning.
According to the Milwaukee Journal Sentinel, the team said 1,600 orders were placed in the first 11 minutes of the sale, which began this morning at 8 a.m. local time.
It is the fifth time the Packers have sold stock in the team. This stock has no monetary value. Shares cost $250 each and were being sold over the Internet and via a toll-free number. So, that’s $400,000 for the franchise in 11 minutes, putting it well on its way to raising capital that will be used for renovation and expansion of Lambeau Field.
“Be patient,” Packers team president Mark Murphy said to those fans trying to order stock, which was put on sale conveniently during the holidays.
The club is hoping to raise about $20 million.
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Brad Biggs covers the Bears for the Chicago Tribune