GREEN BAY, Wis. (AP) — The Green Bay Packers sold $10 million worth of stock in the first three hours of the first sale in 10 years.
There are 300,000 shares available at $300 each, which the team promotes not as an investment in the common usage of the term, but rather as “pride of ownership.”
The team has no obligation to repay the amount a buyer pays to purchase Packers stock. WLUK-TV reports that the team sold 33,000 shares in the first three hours.
The money will go to fund upgrades at Lambeau Field, including new video boards.
It's the sixth stock offering in the history of the NFL's only community-owned franchise.