Green Bay Packers have sold out shares of stock for $250 apiece and raised $67 million the past six weeks to upgrade Lambeau Field.
The NFL’s only public owned team Green Bay Packers has increased more than 250,000 new shareholders, during their six week presenting and raising its total to 360,000 part-owners of the team. Packers have sold out more than 268,000 shares and invoked $67 million dollars to assist fund stadium improvements for the team. Packers CEO and the team’s president Mark Murphy said he is thankful with the way of fans responding on shares and never amazed by the passion and reliability of their fans.
Green Bay Packers has begun the selling shares on 6th December, which the allocation increased quickly with 185,000 shares alone sold out within the first 48 hours. The Shares went on costing $250 each plus handling fee of $25 in the United States and $35 in Canada. Packers is going to enforce the $67 million in proceeds toward a $143 million development of Lambeau Field, which will add 6,700 additional seats, new high-definition video screens and a new entrance by end of the 2013 season.
Murphy said team has bought the shares online straight away, after Green Bay Packers beating Oakland Raiders with a 46-16 on 11th December and improve their head-to-head record to 13-0.