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Marquette Wire

The student news site of Marquette University

Marquette Wire

The student news site of Marquette University

Marquette Wire

Packers begin to sell stocks

The Green Bay Packers will begin selling stock this morning at 8 a.m. to finance a planned $130 million Lambeau Field renovation — the first time the team has offered to sell stock to the public since after its 1997-98 Super Bowl season.

Marquette accounting professor and current stockholder Michael Dole said he isn’t planning on purchasing any more stock for the undefeated team, which would add to his current investment of one share of stock.

“You know, it’s non-voting stock, so it’s more about just being part of it,” Dole said, joking about his ownership before analyzing the business side of the plan.

“The Packers are the only team with the kind of support to raise funds this way,” Dole said. “It’s a pretty savvy way for them to bring in cash.”

The stocks, which will be selling for $250 each, are expected to be on sale until the end of February.

“They are definitely striking while the iron is hot,” Dole said. The Packers clinched the NFC North division this past weekend and are sitting atop the NFL with a 12-0 record going into this Sunday’s game against the Oakland Raiders.

Packers president Mike Murphy said in a press release the organization has been pleased with the level of interest the offering has generated among fans.

“We are not yet in a position to fully discuss the offering,” Murphy said last Thursday in the release. According to the Packers’ website, full details will be available when the stocks go on sale.

The team has offered some details, however, including that buyers are restricted to 200 total stocks and the team will initially offer 250,000 stocks. The release also warns potential buyers about the severely limited nature of the stock, which, according to the release, is actually “not an investment in ‘stock’ in the common sense of the term.”

Dole, who displayed his stock in an accounting lecture earlier this year following a Packers victory, said at the time the team has yet to pay out a dividend to stockholders.

“It is a relatively hefty investment, you know,” Dole said. “($250) for a flier and you get on a mailing list.”

Despite the small chance of making a profit from buying Packers stock (the team’s release reads, “Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits”), this is the fifth time in team history the Packers will offer stock to the public.

Luke Javor, a junior in the College of Business Administration, said offering stock makes it seem like the Packers aren’t garnering enough support in Green Bay.

“Sounds like a team without a city to (represent) it well enough,” Javor said.

Taylor Rausch, a junior in the College of Communication, strongly disagreed with Javor’s assessment.

“It’s genius,” Rausch said. “There’s no privatizing anything and no agendas being set by any owner. The Packers want renovations, because the people want renovations, and then the people pay for the renovations.”

“It’s for the people by the people. That’s why it’s one of the greatest organizations in all of sports,” Rausch said.

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