Don’t know what to get that Packer fan in your life for Christmas this year? The Green Bay Packers, the only publicly held team in the NFL, began selling stock on Tuesday morning in an open offering, and the shares are hotter than Aaron Rodgers arm. The team plans to sell up to 250,000 shares at $250 a piece to raise money for improvements to Lambeau Field.
This is the fifth stock offering in the team’s 92-year history, and with the team as popular as ever right now. They are undefeated at 12-0 and they are defending Super Bowl champs. And quarterback Aaron Rodgers is having arguably the greatest season any quarterback ever has, on pace to make a run at multiple records.
The full offering would raise $62.5 million, a significant portion of the $143 million required for the planned expansion and improvements at Lambeau.
“We tried to budget fairly conservatively, but with the availability of online sales, it makes it easier than in the past,” team President and CEO Mark Murphy said. “Anything we raise, we don’t have to borrow.”
The expansion projects include adding 7,000 additional seats and a new scoreboard and sound systems.
