From jsonline: The Green Bay Packers on Tuesday officially launched their fifth-ever stock sale, and fans from around the country immediately inundated the stock sale website and toll-free number to buy a share of stock for $250.
Mark Murphy, the team's president and CEO, said the first sale was from someone in Texas. Team officials said 1,600 orders were placed in the first 11 minutes of the stock sale, which began at 8 a.m. Central time.
On Twitter, fans were reporting that the it was difficult to access the website - www.packersowner.com - or the toll-free line: 855-8-GOPACK.
Murphy and other team officials said they anticipated there would be high demand. "Have patience," Murphy told reporters at a news conference Tuesday morning. "Be patient."
News of the stock sale was big news around the country. Murphy was interviewed by major business publications, as well as Fox News and CNBC. ESPN radio and other national radio shows also had Murphy on the air.
The offering document and purchasing information are available online. Credit and debit cards can be used online to buy a share, which pays no dividend and holds no monetary value.
For those without internet access, the team created the toll-free number to request the documents by mail.
The last time the Packers held a stock sale - in 1997-'98 - the team netted $22 million on the sale of 120,010 shares at $200 apiece.
Murphy and other team officials said they were not putting expectations on how many shares will sell this time; a total of 250,000 shares are being made available. How much the team will net based on the number of sales also won't be known immediately after costs for shipping, the cost of setting up the website and the cost of the toll-free line.
Fans are being charged $25 for handling.
The organization says all of the money from the offering will go toward the $143 million expansion plan for Lambeau Field. That plan includes a new sound system, already installed, new videoboards and the addition of as many 6,700 seats in the south end-zone area. http://www.jsonline.com/blogs/sports/135091638.html
Of course, you will have no power if you buy a share or 2, but at least you can say you were the owners of a Super Bowl team next year.
Well, Frankly......
48 minutes ago
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