Packers stock sale may begin next week
GREEN BAY, Wis. -- The Green Bay Packers' stock sale may begin as early as next week.
In a letter published on the Utah Department of Commerce's website, a law firm representing the Packers has requested feedback from state regulators on a proposed stock sale that would begin "on or around" Nov. 15. According to the document, shares may be sold online and will be more expensive than in past sales -- perhaps $250 each.
The Packers, the NFL's only publicly owned team, have been planning what would be their fifth stock sale. This one would raise funds for renovations at Lambeau Field. There are 112,205 shareholders who own approximately 4.75 million shares. Shares include voting rights, but their value won't appreciate and there are no dividends.
A team spokesman says the Packers continue to prepare for a potential stock sale and are not able to discuss specifics. It is unclear how many states the team has contacted.
The letter was reported by Bloomberg News earlier Tuesday.
Copyright 2011 by The Associated Press