Just in time for the Christmas shopping season, the Green Bay Packers plan to offer 300,000 shares of team "ownership" for $300 per share. The sale will commence on Tuesday.
But ownership, in this case, is very loosely defined. The stock can't be sold or traded, nor does it appreciate in value. It is merely, as the Pro Football Talk story suggests, a donation. If all the shares are sold, which is likely, the team will raise $90 million in capital.
This is the sixth sale of stock in Packers' history.
All for the right to receive a piece of paper and participate in shareholder meetings.
It's a wonder that no other professional sports franchise has considered this, as we could name a few other teams who might benefit from the Packers' idea.
Cover Photo: Getty Images