The Green Bay Packers, a storied football team known for its devout fans and long legacy, kicked off a $90 million sale of common “stock” on Tuesday. The team is selling 300,000 shares at $300 per share.
But the team is quick to note: It’s not really stock. It is not traded on any stock exchange. Buyers have zero protection under securities laws. The Packers’ offering document notes that it’s “not an investment” and that shares offer “no possibility of profit.”
Are buyers sacked for a loss? The money is effectively a donation that will help pay for upgrades to Lambeau Field, including high-definition video boards and concourse improvements. It’s kind of like a Kickstarter campaign on steroids.
The Packers are a unique entity in the world of professional sports. The team is not owned by any billionaires. It has operated as a community-owned nonprofit since 1923. The team has approximately 361,300 owners. With an eye towards history, the team notes that this marks only the sixth time that it has offered stock over the last 98 years.
Buyers can also receive a certificate of stock, suitable for framing to hang on the wall and brag about. But it will cost you a few extra points. The Packers are charging an extra $35 “handling fee” for every stock certificate issued.
Stock holders will need to complete a separate transaction to buy a hard copy of their share certificate. If a buyer wanted to buy 50 shares but wanted a certificate for each share, they would need to do 50 separate transactions and add $1,750 in additional fees. If the team issued a certificate for every single share, that would bring in another $10.5 million.
The shares are not tax deductible and bring no special benefits like access to tickets or discounts on merchandise.
Buyers are limited to a maximum of 200 shares, including any acquired during previous offerings in 1997 and 2011. The offering is open until Feb. 22 or until the shares sell out. The Green Bay Packers organization did not respond to a request for comment.
In his overview of the offering, Packers president and CEO Mark Murphy adds a postscript: “Shares of stock in the Packers will make a cherished holiday gift.”
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Rick Scuteri
The NFL, the NFL Players Association and their medical directors and independent infectious disease experts put together the protocols. The discipline for violating them was negotiated, with the league and union reaching agreement on specific fines for players. The NFL determines fines for franchises in violation of the protocols.
Rick Scuteri
The NFL, the NFL Players Association and their medical directors and independent infectious disease experts put together the protocols. The discipline for violating them was negotiated, with the league and union reaching agreement on specific fines for players. The NFL determines fines for franchises in violation of the protocols.
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Ed Zurga
They are broken down in several categories.
For any player who fails or refuses to fully cooperate with an investigation led by the NFL and/or NFLPA regarding compliance: one week’s salary up to $50,000. And for refusal to submit to required virus testing: $50,000.
For refusal to wear a tracking device when required: $14,650.
An unvaccinated player gathering in any number for any reason with other players and/or members of the club’s staff at a time when the team is “shut down” due to a COVID-19 outbreak is a $50,000 fine.
For any player who is not fully vaccinated, the $14,650 fine applies to:
— Gathering outside of the club facility or team travel in groups of more than three players or other individuals.
— Engaging in in-person meetings, practices and/or training activities outside of club facilities with other players and/or staff.
— Attending an indoor nightclub (unless the player is wearing personal protective equipment and there are no more than 10 people in the club). Or attending an indoor bar (other than to pick up food, or unless the player is wearing PPE and there are no more than 10 people in the bar).
— House gatherings of more than 15 people without the player and all guests wearing masks or PPE, or where social distancing for the more than fifteen people is impossible.
— Attending an indoor music concert/entertainment event. And attending a professional sporting event (other than applicable NFL games or events; or unless the player is seated in a separate section, such as a suite or owner’s box, is wearing PPE and there are no more than 10 people in that separate section).
— Attending an event that is prohibited by state and/or local regulation or other executive orders or laws implemented due to COVID-19.
— Refusal to wear a mask or PPE; and/or maintain physical distancing in club facilities or during travel.
Ed Zurga
They are broken down in several categories.
For any player who fails or refuses to fully cooperate with an investigation led by the NFL and/or NFLPA regarding compliance: one week’s salary up to $50,000. And for refusal to submit to required virus testing: $50,000.
For refusal to wear a tracking device when required: $14,650.
An unvaccinated player gathering in any number for any reason with other players and/or members of the club’s staff at a time when the team is “shut down” due to a COVID-19 outbreak is a $50,000 fine.
For any player who is not fully vaccinated, the $14,650 fine applies to:
— Gathering outside of the club facility or team travel in groups of more than three players or other individuals.
— Engaging in in-person meetings, practices and/or training activities outside of club facilities with other players and/or staff.
— Attending an indoor nightclub (unless the player is wearing personal protective equipment and there are no more than 10 people in the club). Or attending an indoor bar (other than to pick up food, or unless the player is wearing PPE and there are no more than 10 people in the bar).
— House gatherings of more than 15 people without the player and all guests wearing masks or PPE, or where social distancing for the more than fifteen people is impossible.
— Attending an indoor music concert/entertainment event. And attending a professional sporting event (other than applicable NFL games or events; or unless the player is seated in a separate section, such as a suite or owner’s box, is wearing PPE and there are no more than 10 people in that separate section).
— Attending an event that is prohibited by state and/or local regulation or other executive orders or laws implemented due to COVID-19.
— Refusal to wear a mask or PPE; and/or maintain physical distancing in club facilities or during travel.
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Bruce Kluckhohn
The NFL was not specific on that, but Rodgers had been seen without a mask at the Packers' facility, particularly during news conferences.
Rodgers, who in August said he was “immunized” against COVID-19, said Tuesday: “I made some comments that people might have felt were misleading. To anybody who felt misled by those comments, I take full responsibility for those comments.”
Rodgers said Friday that he sought alternative treatments rather than the NFL-endorsed vaccinations because he is allergic to an ingredient in the Moderna and Pfizer vaccines. He didn’t specify the ingredient.
Bruce Kluckhohn
The NFL was not specific on that, but Rodgers had been seen without a mask at the Packers' facility, particularly during news conferences.
Rodgers, who in August said he was “immunized” against COVID-19, said Tuesday: “I made some comments that people might have felt were misleading. To anybody who felt misled by those comments, I take full responsibility for those comments.”
Rodgers said Friday that he sought alternative treatments rather than the NFL-endorsed vaccinations because he is allergic to an ingredient in the Moderna and Pfizer vaccines. He didn’t specify the ingredient.
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Tony Dejak
The NFL may impose discipline on such players or ones who knowingly provide misleading or incomplete information during a contact tracing interview. The maximum fine amount is for one week’s game check up to $50,000 for a first offense. But there could be subsequent discipline for further offenses.
Tony Dejak
The NFL may impose discipline on such players or ones who knowingly provide misleading or incomplete information during a contact tracing interview. The maximum fine amount is for one week’s game check up to $50,000 for a first offense. But there could be subsequent discipline for further offenses.
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Charlie Riedel
Yes — based upon the absence of just cause; whether the player actually was engaged in such conduct; whether the punishment imposed by the NFL was warranted for that conduct; and a variety of other allowable bases.
Rodgers appealed the decision to not accept his treatments as equal to a vaccination but lost the appeal. He has not yet appealed Tuesday's fine and has not indicated he will do so.
Charlie Riedel
Yes — based upon the absence of just cause; whether the player actually was engaged in such conduct; whether the punishment imposed by the NFL was warranted for that conduct; and a variety of other allowable bases.
Rodgers appealed the decision to not accept his treatments as equal to a vaccination but lost the appeal. He has not yet appealed Tuesday's fine and has not indicated he will do so.
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Ross D. Franklin
Repeat violations would subject players to increased discipline, including for conduct detrimental to the game. A maximum fine of one week’s salary and/or suspension without pay for four weeks or less would be imposed.
Ross D. Franklin
Repeat violations would subject players to increased discipline, including for conduct detrimental to the game. A maximum fine of one week’s salary and/or suspension without pay for four weeks or less would be imposed.
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Phelan M. Ebenhack
All 32 NFL teams are required to ensure a safe environment not only at their facilities but at stadiums and during travel. They also are required to monitor the actions of players and staff, which includes taking around-the-clock videos at their facilities.
Players also must inform the team if they are vaccinated, and those who are not must adhere to specific protocols for them. The NFL found that the Packers did not handle these situations properly.
Phelan M. Ebenhack
All 32 NFL teams are required to ensure a safe environment not only at their facilities but at stadiums and during travel. They also are required to monitor the actions of players and staff, which includes taking around-the-clock videos at their facilities.
Players also must inform the team if they are vaccinated, and those who are not must adhere to specific protocols for them. The NFL found that the Packers did not handle these situations properly.
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Michael Conroy
Yes, but it is unlikely. After several teams were discovered to have violated protocols in 2020 — leading to COVID-19 outbreaks and, at times, schedule adjustments — only one, New Orleans, was stripped of a 2022 sixth-round pick. The Saints were sanctioned by the league for inconsistent cooperation. The Packers have not been cited for that.
Michael Conroy
Yes, but it is unlikely. After several teams were discovered to have violated protocols in 2020 — leading to COVID-19 outbreaks and, at times, schedule adjustments — only one, New Orleans, was stripped of a 2022 sixth-round pick. The Saints were sanctioned by the league for inconsistent cooperation. The Packers have not been cited for that.
Amanda Weichert, 24, of Eau Claire, Wisc.,watches pregame warmups before an NFL football game between the Detroit Lions and Green Bay Packers in Detroit, Sunday, Nov. 18, 2012. Weichert owns Green Bay Packers stock.
Paul Sancya
Amanda Weichert, 24, of Eau Claire, Wisc.,watches pregame warmups before an NFL football game between the Detroit Lions and Green Bay Packers in Detroit, Sunday, Nov. 18, 2012. Weichert owns Green Bay Packers stock.
