Just in time for Christmas and Hanukah, the Packers are offering another stock sale, starting next Tuesday. When the Packers last did this (in 1997), my wife, my kids and I all bought stock, and have never regretted showing our support for the Packers this way. It is not, in any normal sense, an investment. Proceeds will be used to fund additional Lambeau Field expansion, including the new end zone seats which will be built. A summary of some of the information available about the stock sale is available here. Full disclosure information will be available later.
Anyway, thanks to Packer blogger Jersey Al and to my friend Peter Chen for reminding me of the stock sale. Go out and become an NFL owner!
The terms of sale mean it is functionally equivalent to a donation to nonprofit organization except that it lacks the tax advantages of such donations.
ReplyDeleteIt sounds so bad when you put it that way. But that is basically correct.
ReplyDeleteI somewhat disagree. With the capital raised in 1997, the Packers were able to fund the expansion of Lambeau Field, which they needed to do to stay competitive in the league ... revenue, revenue, revenue.
ReplyDeleteThis stock sale will help them fund the next expansion of Lambeau, which will help to ensure financial competitiveness down the road.
Remember ... no offense to my friends in either Green Bay or Wausau ... but you all remember what they said in Elmer's Window Bar on the Channel near Shawano lake on night: If Green Bay loses the Packers, it will be just another Wausau.
Anonymous (you aren't my friend Dick, are you? Who else writes comments about Shawano?) - I don't think Reg Check disagrees with you, and I don't either. This IS a necessary expansion, or at least a desirable one. And the reality is, with no "deep pockets" owner, the fans and the stockholders are the ones to fund it. But Reg Check's cynical point was just to note that it is not really an investment, just a donation (sans tax deduction).
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