Packers offer shares without benefits
In today’s economy, there is no room in anyone’s budget for poor investments. So why are so many people buying stock in the Green Bay Packers?
On December 6, the Packers offered shares for sale for the first time in 15 years. In the time since, they have already sold more shares than the total that was bought when shares were last available. In fact, more than twice as many shares have already been sold. The shares are selling so well that the offering was extended 30,000 shares. They have already sold 250,000.
The Packers, with their excellent record and high chances of making it to the Super Bowl, seem like a sound investment. Until you realize that the stock has almost no benefits. The paperwork to obtain the stock even warns that the stock should not be purchased with the intent to make a profit. At 250 dollars a share, it’s not the kind of money most of us can afford to just throw away without any real hope of return. The stocks are untradeable, pay no dividends, and does not even have securities-law protection.
The only real benefit of the shares, if it can even be called a benefit, is access to purchase shareholder-only merchandise. It gives no discount on regular merchandise, nor does it give preferential treatment when buying tickets. The only ones to benefit from the stocks are the Packers themselves, though some view their support of the team as a reward in and of itself.
The Packers face off against the New York Giants on Sunday at home on Lambeau Field where they will compete for the opportunity to go to the NFC Championship game. They are coming off of a first round bye.