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NFL approves potential Packers stock sale

Regulatory steps remain

Lambeau Field
Lambeau Field

GREEN BAY – The Packers have received the NFL's approval for a potential stock sale to help fund improvements at Lambeau Field. There remain regulatory hurdles to any offering.

NFL Commissioner Roger Goodell has determined that a stock sale would meet the appropriate conditions established in 1997 for such a sale to raise funds for stadium renovation.

The Packers have undertaken significant stadium improvement projects recently. Multiple phases of concourse upgrades already completed, combined with planned new video boards and additional concourse upgrades, result in an estimated total cost of $250 million.

Funds raised from a potential stock sale would support those projects, with the Packers not seeking any public tax dollars.

"We appreciate the consideration of Commissioner Goodell and the support from the NFL for our potential stock sale," Packers President/CEO Mark Murphy said. "Should we proceed with an offering, we would also have to take regulatory steps and other actions. We are exploring such steps and intend to keep our fans informed of further developments when we are able."

The Packers have had five stock sales in their history. They took place in 1923, 1935, 1950, 1997 and 2011.

The 2011 sale, with shares priced at $250, added more than 250,000 new shareholders and raised $67.4 million toward a new entrance tower and viewing platform in the north end zone and an expansion that added roughly 6,600 seats to the south end zone. That project was completed in 2013.

The 1997 sale, with shares priced at $200, added 105,989 new shareholders and raised more than $24 million, which was used for the Lambeau Field redevelopment project completed in 2003.

Stock in the Packers does not constitute an investment in "stock" in the common sense of the term. The Packers will have no obligation to repay the amount a buyer pays to purchase Packers stock. Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a tax deduction or any other economic benefits. Any offering of Packers stock will only be made through an offering document. The Packers believe offerees and purchasers of Packers stock will not receive the protection of securities laws with respect to any offering or sale of Packers stock. The Packers bylaws and NFL rules severely restrict transfers of Packers stock.

For more shareholders information, click here.

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