Packers taking steps toward another stock sale | WLUK, with Prof. Cherry

GREEN BAY (WLUK) — For the first time in about a decade, you could have a chance to buy stock in the green and gold.The Packers say they’ve received NFL approval for a stock sale, but other regulatory hurdles remain. There are no economic benefits to purchasing Packers stock. It is essentially a donation. Despite that, the team raised $67.4 million with its stock sale in 2011. The shares sold for $250 apiece.

The Packers recently upgraded stadium concourses. They plan to do more concourse work and replace the main video boards, which debuted nine years ago. The work carries a total price tag of $250 million.

“We’re coming up on the holiday season,” said Preston Cherry, a finance professor at UW-Green Bay. “People have money on the sidelines because they’ve been saving money during the pandemic and the stock market is doing fairly well right now.”

While Cherry says the timing is right, the team’s most recent financial report may have some questioning whether the offering is financially necessary.

Source: Packers taking steps toward another stock sale | WLUK