Packers sold more than 268,000 shares in completed sale
The Green Bay Packers wrapped up their stock sale on Wednesday and while the club doesn’t have exact totals just yet, it announced more than 268,000 shares were sold during the offering that began Dec. 6.
According to a release, the Packers now have more than 360,000 shareholders. The stock sale means the club generated more than $67 million in sales. That won’t be straight profit as there were fees attached to the individual price tag of $250 per share. But it gives the Packers a good deal of capital to pay for expansion on Lambeau Field.
“The response to the offering by our fans was overwhelming,” Packers president Mark Murphy said in a statement released by the club. “We enthusiastically welcome our new shareholders from across the country and Canada, as well. We thank them for their support of the stadium expansion that will help us achieve success in the long term, and provide an enhanced gameday experience that will continue to thrill our guests.”
The expansion project will cost $143 million and will add 6,700 new seats to the stadium and add new video boards, two new gates and more. It is expected to be completed in time for the 2013 season.
Packers fans from all over purchased the stock. According to the team, approximately 50 percent were in Wisconsin. Next in order were Illinois (8.5 percent), California (8.5 percent), Minnesota (5 percent) and Texas (5 percent). In Canada, Packers fans responded by purchasing approximately 2,000 shares.
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Brad Biggs covers the Bears for the Chicago Tribune