Photo: Wikimedia Commons
The Green Bay Packers haved raised $67 million since December 6th by selling 268,000 shares of the team to fans, the Wausau Daily Herlad reports.The “shares” (which cost $250 a piece) aren’t really stock at all. They don’t increase in value, there are no dividends, and they have no cash value.
But buyers do get a piece of paper that says they’re an “owner” of the Green Bay Packers.
The team is the only publicly owned franchise in the league, and now has 360,000 so-called shareholders.
The team sold 185,000 shares in the first two days of the sale, and reached 268,000 shares by the time the sale ended on Wednesday.
So to recap: the Packers made $67 million selling paper to its fans.
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