The Packers, the NFL's only publicly owned team, announced details Thursday about their first stock sale in 14 years and fifth in team history. The money will help pay for $130 million in renovations at historic Lambeau Field in Green Bay.
Packers stock isn't like regular stock. The value doesn't go up, there are no dividends and it has virtually no resale value. Stockholders do get voting rights, along with invitations to attend annual meetings where they can meet Packers executives, tour the PackersHall of Fame and stick around for the kickoff of training camp.
There are currently 112,205 shareholders who own a total of 4.75 million shares. Another 250,000 shares will go on sale Tuesday, available by mail or at packers.com. In either case, the shares cost $250 plus a handling charge.
The sale runs through Feb. 29, subject to extension. Stock can only be purchased by individuals, not businesses, and there's a 200-share cap, a figure that includes any stock purchased during the last sale in 1997.
Newly purchased shares can be given as gifts. However, once ownership is established, a share can only be transferred within the immediate family.
Copyright 2011 by The Associated Press