Stock that has no monetary value selling hot for Packers
That sure didn’t take long.
The Green Bay Packers put their stock that has zero monetary value on sale Tuesday morning and by this afternoon the club announced it had sold 185,000 shares at $250 apiece. The net profit has raised more than $43 million already for the Packers, who are planning to use the funds to help pay for expansion at Lambeau Field.
“The Packers are tremendously appreciative of the support we’ve received from our fans,” team president Mark Murphy said in a statement, according to the Milwaukee Journal Sentinel. “The expansion will enhance the stadium experience for fans, increase our team’s home-field advantage and ensures that Lambeau Field continues be a source of pride for fans everywhere. We’re humbled by the response from our fans and their desire to help the Packers achieve long-term success.”
The plan by the club was to tell as many as 250,000 shares in a sale that will conclude Feb. 29. The Packers will sell more than that if the demand remains. That seems like a pretty good bet. In fact, we’re willing to predict that if the Packers can repeat as Super Bowl champions, there will be another rush on the stock in February by fans who want to be able to say they own a piece of the Packers, even if they’re just buying a piece of paper.
Shares can be purchased at the team’s Web site. There is a $25 handling charge per order.
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