It took just 2 days for the Packers to sell 185,000 shares of stock, over 75% of the initial offering that was supposed to last until February. That’s 48 hours, $43 million dollars total or over $1,500 dollars donated every minute.
The media (maybe most notably Bill Johnson of Green and Gold Today) and fans (even some Packers fans it appears), have been taken to ridiculing the idiots who have decided to buy a stock that offers little in terms of power within the Packers organization, does not constitute a stock in the traditional sense of the word (as stated on the website), and can only be resold to the Packers for 2.5 cents, which is a 100 fold loss. Some have called the sale disingenuous (or greedy as Jason Wilde put it) since the Packers aren’t in dire economic troubles.
I think the biggest misconception that people outside of the Packers faithful (and even some Packers faithful) is that this is indeed a stock (which let’s be honest it really isn’t) So I’ve put this list together for all of you to why buying Packers stock isn’t a stupid idea.
- Think of it as a souvenir: Buying stock is really no different than buying a cheesehead at the proshop or any other NFL merchandise for that matter. If you think about it, what are you really doing when you buy a NFL baseball cap? You are paying (at a gross markup) for a product (that will look completely different next year) that in turn the team will use for to maintain its finances. Presumably, the team will use the profit from that baseball cap to pay its coaches, players and administrators, promote the team and fund development/redevelopment of stadiums. Packers stock is no different aside from the fact that all the profit taken from the stock sale will be directed specifically to redevelopment of Lambeau Field. I know tons of Packers fans just want the stock so they can frame it and stick up on a wall somewhere.
- Think of it as a donation: Compared to the recent problems facing the Minnesota Vikings, who are currently squabbling with lawmakers over funding a new stadium, the money used for the redevelopment of Lambeau Field is being solely covered by the team (or if you want to be really technical the Packers own money plus the money derived from the stock sale, which is now also the Packers money). No taxpayer dollars are required. So if you live in Wisconsin and heaven forbid don’t watch football, you don’t have to pay for a “service” that you don’t ever use. On the other hand, this allows people outside of Wisconsin (which is a lot considering how spread out Packers fans are) to pay for a service that they do use. Also keep in mind that donating to the Packers also allows them to indirectly run the Green Bay Packers Foundation indirectly, which provides funding for a “wide variety of activities and programs that benefit education, civic affairs, health services, human services and youth-related programs”
- Think of it as an investment in your own enjoyment: As a Packers fan you want to see a good product on the field, and for the Packers to provide that, they need money to keep the best coaches, administrators, field crews etc. Even if the team isn’t in risk of insolvency like it has been in previous stock sales, the Packers are at a disadvantage in that they are in a small market. In order to keep up with the wealthier teams such as Washington, Dallas or New England, the Packers need to start developing new streams of revenue that aren’t under the profit sharing agreement. New England is apparently building a casino on land near the team and Washington has its own official mattress, but the Packers really only have the Atrium at the moment. To that end, the Packers have recently purchased land around the stadium that they hope to build into “Lambeau town”, which will provide profit sources during the offseason and in between games. To do that they need money and one of the biggest sources of profit for the team is ticket sales, hence the stadium redevelopment. So really, by buying a Packers stock fans are investing in their own enjoyment. The more money the Packers have, the better product they can put out there and the more enjoyment fans will have watching the Packers trounce everyone else. And really, what is investing in regular stocks about? For most people it’s about making more money so they can purchase things that they want (whether that be fancy cars, fast boats or crazy parties) that they enjoy. Buying Packers stock is exactly the same way, fans want to watch good Packers teams and are willing to invest in it.
So really, don’t think of it as a stock, as it’s only a stock in name; don’t think about it in terms of dividends or profit gains or being an owner. Think of it as an investment in enjoyment for Packers fans. I know most Packers fans don’t really consider themselves owners, but it is nice that fans can be part of the Packers in a way that no other fan in any other American professional sports team can match. And really, if your team offered stock sales where you could become a part owner of the team, I bet you’d buy one too.
——————Thomas Hobbes is a staff writer for Jersey Al’s AllGreenBayPackers.com.
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Forty years ago I played football with Scott O’Brien who is the ST Coach of New England. He is chasing his SB ring. As an owner – my ring is on the way. It is the only thing in my to do basket that I thought was impossible. Thanks Rodgers, Woodson, CMJ3, RAJI, and every single player last year.
As for the fans complaining about our defense STFU. All of these players went though a very tough season by losing 8 games by 24 points total. They know what it takes to win close games. Did you ever think the D is running the clock out. Think about this season. Teams were out of it and the D allowed them to spend precious clock time. Heck MM could have beat several teams by 50 points this year. Do you remember NE beating teams like that. Everyone hated them. Didn’t want to just beat them, but hated them. Still do! Not this years GB team. People are appreciating all the hard work these players have done to reach here. They are at level unseen since Miama in 72-73. Our Packers are building a fan following across the USA because they play smart football. So stop belly aching and just enjoy the ride.
GO for it! 19-0 and be the best EVER.
I couldn’t believe Wilde said that. How is it possible for Packers executives to be greedy? Does Mark Murphy get a bonus for every million dollars he raises through the stock sale?
What exactly do the people involved in the stock sale personally gain from the sale? The Packers aren’t trying to find the entirety of the project solely through the sale; they hoped to raise a mere 22 milion (at this point probably less than half of what they’ve sold).
And the first point in this article has been mine all month long. What’s the difference between buying a 300 dollar signed jersey, which has no intrinsic value beyond it being a piece of sports memorabilia? It’s otherwise a worthless scrap of polyester fabric; look at how much the knockoffs, made of the EXACT same materials and specifications cost compared to the “official” ones.
It sits on your wall. Yeah, sure, it can “increase” in value in terms of absolute dollars, but I absolutely guarantee you that in the vast majority of these sales, the signed jersey, football, helmet, etc, will not beat inflation, or at best, will not beat a stock portfolio investment. In other words, the Packer stock is no worse an “investment” than a stupid bobblehead doll with a signature on it.
The ignorance about this stock sale has been insane. It makes absolutely no sense.
*find = fund.
Also, if the Packers organization were “greedy” – they could charge a lot more for their tickets and concessions than they do now. They have a 100+ year waiting list full of fans that would pay 20-30% more, much like what the other markets are paying.
Instead of charging more per seat, which costs them absolutely nothing, they’re trying to build more seats for fans to enjoy the game.
Sports writters (notice I didn’t say journalists) are blithering idiots. Of course, we know our stock has no financial value. Our stock represents a commitment to the team we love. GB has no sugar daddy owner who can belly up and drop some of their millions whenever they need it (see J Jones).
A futher expansion and modernization of Lambeau before it’s falling apart (see Humpty Dump) represents a vision that will keep the Packers in good finacial sted for many years to come.
It’s a mater of pride and a visible committment to the long term health of the best franchise in the NFL. If they haven’t noticed, the stock offering has garnered interest around the world. And a whole lot more Packer fans for the future.
It also helps the Packers because they will not have to go to the government with their tin cup in hand (See the Queenies). I feel a great satisfaction that the “stockholders” have made a commitment to the Green Bay Packers and the team will still be around for my grandchildren to enjoy long after I’m gone.
Go Pack! Wilde, you have your head so far up your butt you need a glass navel to see.
Correction:if you buy a share for $250 and then the Packers buy it from you for 2.5 cents then it isn’t a 100 fold loss it is a 10000 fold loss. Good thing there is an accountant in the house 🙂
I think of it as a symbolic stock. All these stock issuances have been for large capital expenditures. An owner or ownership group would normally have to take on the liability of financing something like this. The great thing about the packers raising $62.50 million from fans is obviously the free money, but no interest on that money (which can’t be overlooked in these economic times) and the elimination of enormous long term debt. Fans aren’t just helping the packers mitigate risk, but compete with other NFL franchises as their stadiums become entire districts. I don’t know if the Packers would have been able to finance the expansion of the stadium and district, but I am know I am happy fans stepped up to make sure this project doesn’t end up bankrupting the team. The expansion of the stadium will pay for itself ten fold, but hotels, baseball fields and everything else?
The next logical critique is “If the packers don’t want to take on the risk themselves, they shouldn’t be doing this.” Just like point three above, Packer fans are ensuring they can compete with the major markets in every facet.
What really bothers me is how little all these critics know about the stock, the packers ownership structure, or the community’s involvement in the team. It’s not being reported with these cheap shot blurbs from PFT or even National Football Post. I got criticized by co-workers at work about buying stock and none of them even knew the packers were a non-profit corporation. And these are Bears fans. I went on to tell them a lot of the original season ticket holder not only own stock, but actually volunteered to build the stadium. There is no way there is a team in Green Bay without these stock sales. Their presence in Green Bay is a relic of countless small market teams in pro football and pro basketball over the last 100 years. Can you imagine the Milwaukee or Wisconson Packers?
the success of the stock sale is a tribute to the relationship between the packers team, fans, staff and management. if 250,000 shares can bring 7000 seats, what will it take to provide enough seats to get the waiting list down to a reasonable lifetime to wait???
I think I can summarize all of the comments above into one simple sentiment that eloquently states it all:
Big dummy head Packers haters are stupid.
Well said Oppy.
Another way to look at this is anyone who buys a pennant or a hat(as mentioned above) from the pro-shop or any of the overpriced merchandise is contributing to the evil greedy NFL enterprises. Or if you buy a beverage at the stadium or program etc. Or how about when you watch a game. The advertisers are paying big money to the NFL. You’re contributing to that big time money grab. The list could go on and on.
The idiots who criticize those who buy a great souvenir are very narrow minded.
It’s be-Wildering.
“Big dummy head Packers haters are stupid”.
Yes Oppy, that is “Eloquent”.
To cap off this discussion – That imbicile, Wilde, is now saying that because Braun has failed a drug test, we need to worry about AR because they’re friends. Is it that hard to write a stoory on something that is actually happening?
Yes, I know the A$$ is trying to weasel out of his tweet, but that, in escence, is exactly what he impled. He is getting as bad as Hunt and his stupid anonymous sources.
Idiots, one and all.
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Nice …Very useful post