If people are giving you money for absolutely nothing, why would you stop taking it?
As a result of the feeding frenzy that their earlier offering of public stock created three weeks ago, the Green Bay Packers have decided to make another 30,000 shares available for anyone looking to throw away additional dough. Back in the first week of December, don’t forget, America’s only publicly owned sports franchise peddled 250,000 shares for $250 a pop (plus transactional fees) to fans who wanted to feel like they owned a piece of the defending champs when in reality they didn't.
“The support from our fans has been outstanding, and we appreciate their enthusiasm,” Mark Murphy, the team’s president and CEO, said Tuesday in a statement. “We continue to receive interest in the offering, and this increase in the number of available shares will help ensure that we are able to accommodate all those who want to become shareholders.”
This latest offering will end either on Feb. 29 or when all of the remaining shares are sold – whichever comes first.
As we reported on Opposing Views earlier this month, each share of Packers stock is worth approximately three cents. Not that it matters, of course, because you’re not permitted to re-sell the shares anyway. Plus, in what can only be described as an “added bonus,” owning shares also means the following:
Meanwhile, the powers that be in Green Bay are laughing all the way to the bank.
All in all, 280,000 shares sold would raise the defending champions a grand total of $70 million.
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3 Reasons Why Buying Green Bay Packers Stock is Beyond Stupid
Not to point out the obvious, but would you prefer the state/county/city forcibly raise the funds, like every other pro team, via taxes ?
To me, a former resident of Wisconsin, who has lived in Texas for over a decade, it's an honor to give a few bucks to the enterprise that I love. I think most fans would agree.
Your objection can only lead to one conclusion, you don't mind paying extraordinary hotel and car rental tax rates/fees to support stadiums in cities you visit. I think it stinks.
To me, all teams should have to raise the funds voluntarily. And make no mistake about, when a team whats a a new stadium or repair an old one, they get it or leave. And someone will give them what they want and plenty of people who don't like the team/sport will end up paying for it.
And really.. what do you care, what's your grip here, that people are voluntarily spending their cash is ways you don't approve of ? Are you cool with other donations, or is anyone that gives money with no expectations of a return, just as 'stupid' in you mind. As clearly stated on the purchase website, "COMMON STOCK DOES NOT CONSTITUTE AN INVESTMENT IN "STOCK" IN THE COMMON SENSE OF THE TERM. PURCHASERS SHOULD NOT PURCHASE COMMON STOCK WITH THE PURPOSE OF MAKING A PROFIT." Inferring the purchaser don't know this is non-sense.
For the record, pointing out rules that are for owners is fine, but forgetting to mention that the NFL doesn't view a Packer Shareholder as an owners is misleading non-sense. You also failed to mention voting rights. The shareholders alone determine management, aka the board of directors. It may not mean much to you, but to some of us, that is worth the price of admission.
No one is laughing 'all the way to the bank' because unlike other sport teams, there is no owner, every cent is recycled back into the organization. No one, but the fans, many of who bought stock, are prospering from the sale.
So if anyone is 'stupid', it would be the fool who writes an a misleading article to prove that a donation is a 'stupid' investment, something nearly a million Packer Shareholders already knew, and more importantly, something pretty much everyone on the planet already knows.