The Green Bay Packers have sold somewhere around 250,000 shares of stock, which was the most they planned on selling in their initial offering.
That was predictable. The demand was high for the team’s first offering of stock since 1997. Hell, I paid the $275 to get that piece of paper. So, the Packers are going to make 30,000 more shares available and fans can buy them until February 29, 2012.
“The support from our fans has been outstanding and we appreciate their enthusiasm,” said Mark Murphy, the team’s president and CEO. “We continue to receive interest in the offering, and this increase in the number of available shares will help ensure that we are able to accommodate all those who want to become shareholders.”
Blah, blah, blah.
The Packers are making more stock available because it’s going to make them more money. At $275 ($250 for the stock plus $25 for some bullshit handling fee), the Packers have netted more than $68 million from the initial sale. They’ll net an additional $8.25 million if they sell all 30,000 of the shares just released.
Other organizations are bitching that the stock sale is a license for the Packers to print money and to some degree, they’re right. On the other hand, if the Packers weren’t publicly owned, they wouldn’t be in Green Bay.
That being said, it seems like it’s time for the organization to admit what the stock sale is about — money. Yeah, the fans want it. I wanted it, but I’m not delusional enough to think the Packers gave two shits about that.
They did it for the money and so be it, but don’t tell us this is all about the fans.
The Packers will use the proceeds from the stock sale to help finance a 6,700-seat expansion to Lambeau Field that will cost $143 million. And guess what?
That will help the organization make more money too.
How is it any different than spending $275 on a plaque or a on memorabilia that isn’t worth anything to anyone but the buyer? If you don’t like it…don’t buy it!!! I keep hearing people talking shit about the people buying the stock saying we are idiots because its not worth anything…but guess what, its worth something to me. The way you talk shit maybe you should think about renaming this site totalvikings.com or something.
Sheri, I don’t want to offend any of the younger readers, but you sound like a textbook C U N T. The theme of your post is “if you don’t like it then don’t buy it”. And yet ironically you complain about and insult the author of a free website. If you don’t like it, don’t read it. Just because your unkempt and unappreciated genitals look like billy Mays eating three packs of Big League Chew, doesn’t mean you can come out here and badmouth TotalPackers. My thought is that with a little relief downstairs, you might not be such a C on internet comments.
…read it again Sheri….Im pretty sure that Monty doesnt dislike the stock…..seeing he bought it himself……..
Oh and: Fuck the Vikings……….
When have they not admitted it’s about the money? Isn’t this stock offering supposed to fund an expansion?
And if the fans weren’t into it, they wouldn’t have sold the 250k so quickly.
I live in MN (from WI – Packers fan) and have been listening to the constant bitching about using tax revenue to fund a new Vikings stadium and it makes me proud that the Packers organization can raise the money directly from the fan base that loves them.
Who could have a problem with this?
License to print money, hahahah. Yeah, what u gonna do about it bitch! Im sure that’s what the front office is saying right now as they stack that cheese.
At the end of the day, as long as it’s for the team and not hookers and drugs for the suits. Its not hurting anyone just helping the team and ultimately the fans with more seats available in the stadium.
I bought a share and am happy I did. Nobody is twisting our arms or anything. We know it is basically donating $250 plus the $25 to the Packers and we don’t care. They told us upfront that it wasn’t worth anything monetarily, but we bought it anyway. I’m glad there will be 30,000 more shares available and I’m sure people will buy out those also. I always wanted to buy stock in something……and a Packer share was perfect. Go Pack Go!
I guess there’s no end to the willingness to complain that the Packers are team that takes a long-term look. It used to be that TT was always trying to get young for its own sake and should just bring in some free agents already – that act was a bit hard to keep up once draft-and-develop turned into a SB, so now we’re on to complaining that the Packers are preparing for the possibility that they aren’t guaranteed to spend the next few decades as hot, marketable, and visible as they are now.
When do you expect them to expand the stadium? Should they have done it after 6-10 in ’08? Of course they’re going to do it after winning the super bowl, because that’s when the opportunity presents itself. This is going to pay off down the line in the form of greater long-term franchise viability, and everyone currently whining about what a cash grab this is (and who exactly is pocketing the nonexistant profits, again?) will be pointing back to this decision 10-20-30 years from now and acting like they knew it was the way to go all along.
Oh, and 6,700 more seats. I love how we’re trying to work out a way to present 53,000+ more Packer fans being able to see live football at Lambeau over the course of a season as a bad thing.
Fitting that the biggest fleecing in the NFL is paired perfectly with the dumbest fans in the league. Poor little Johnny can’t go to bow hunter’s safety class because “we had to buy a share of the Packers for the Christ’s sake, or no.” That will look great over the bar in your basement, right next to the Brett Favre poster mom won’t let dad take down. On Wisconsin!
Hey bear fan. What white guy did you have to threaten to get online and type semi-legibly for you? I understand that with your meager lone Lombardi trophy coupled with a franchise in decline that you may be sadder than “Brian’s Song II: The Lemon Party.”
We in Wisconsin may be as dumb as you say we are but we can rest our waterheads on our multitude of trophies and our most recent NFC championship embarrassment at that swollen old hooker cunt that you call a stadium. Sweetness himself couldn’t save that Edmund Fitzgerald of a team. Neither could your lord and savior ditka who evey day looks more like a botoxed out Freddy mercury. Hopefully he has the aids too.
My advice is to do what McMahon did. Get away from the scumbag bears and get with a real team of champs. Or do like Kevin butler and fade away quietly with a mouthful of dicks. Or no.
LOL I have to say Bears Fan post was pretty fucking funny! Hats off to you fuck tard. I do appreciate a good chuckle.
As for you people jumping on Sheri, hey go jerk off will ya? If you read her fucking post shes on her side. Besides, I agree with her; fuck Monty trying to act like the Packers are being somehow dishonest about the whole ownership vs. value shit. People have known for 50 fucking years that the Packer stock isnt worth shit. The Packers arent trying to make it about anything else.
I love the fact we dont need some fat peice of shit owner who may be paying too many ex-wives to pony up dough for a good team to run our franchice.
People, including “Bears fan” don’t understand the concept of utility. If I get great value/satisfaction, or utility, from buying a share, then so be it. It is no different that buying some other good, like an iPod. It doesn’t matter the tangible worth of the item I am receiving; what matters is the utility I receive. Since the utility I receive is worth far more than $275, it is a great use of my money.
I like how the money goes right to the team…no middlemen cutting deep into the profits. Yeah, all I own is a blade of grass on the field, but it’s MY FUCKIN’ BLADE OF GRASS! you buy a ‘game worn’ jersey for $265. half of that money goes to who made the jersey..the other half goes into a pot thats split among the 32 teams.. Yeah, Even the Packers gets a bit of scratch from your ‘Bears’ jersey. Buy more of them..but my stock money went to the Packers. ONLY the Packers.
MY PACKERS!