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Packers to hold stock sale

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By PFW staff

The Packers are planning to hold the fifth stock sale in the team's history before the end of the year, pending necessary approvals.

"It requires NFL approval and we are hopeful to receive that by the end of October," team spokesman Aaron Popkey told the Green Bay Press-Gazette. "There are some different financial regulations (than with the last sale) and we are working through that. We would hope to have an offering yet this fall."

As was the case with the last sale, the money will be used on stadium approvals. The Packers announced plans in August to spend $143 million in projects to add 6,600 seats to Lambeau Field and make other improvements. Construction will be paid for by the Packers and the Green Bay/Brown County Professional Football Stadium District and is scheduled for completion before the 2013 season.

During the last offering, in 1997-98, the organization sold shares at $200 each, the Gazette reported. It raised $24 million.

"We are hopeful we would sell in the neighborhood of at least what we did last time," Popkey said.

 

 

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