BargainValueHunter Posted December 6, 2011 Share Posted December 6, 2011 http://www.marketwatch.com/story/green-bay-packers-open-stock-sale-2011-12-06 The Green Bay Packers on Tuesday began the fifth stock offering in the history of the National Football League franchise, with 250,000 shares for sale. Each share will cost $250, and there will be a limit of 200 per person, a figure that includes any shares bought in the 1997-98 offering. Link to comment Share on other sites More sharing options...
ScottHall Posted December 7, 2011 Share Posted December 7, 2011 I'm curious why anyone would purchase these securities. Not only is there no potential for profit, but the NFL can apparently fine you up to $500,000 if you're found badmouthing any NFL team. Seems silly. Link to comment Share on other sites More sharing options...
eclecticvalue Posted December 7, 2011 Share Posted December 7, 2011 Because it is a sports team. A lot of sports fans in the United States would love to be part owner of a team. It is ironic since there isn't much economic benefit but mostly sentimental. I wish the government would allow the sports teams to be traded publicly but there would be many regulations and work for the SEC. Manchester United in England was publicly traded until it was bought out. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted December 7, 2011 Author Share Posted December 7, 2011 I'm curious why anyone would purchase these securities. Not only is there no potential for profit, but the NFL can apparently fine you up to $500,000 if you're found badmouthing any NFL team. Seems silly. The Green Bay Packers are a way of life in Green Bay, Wisconsin. "Intense" doesn't even begin to describe it! Buying stock in the team is the LEAST of all signs of loyalty! http://online.wsj.com/article/SB10001424052970204903804577082524238902912.html The team, which is structured as a Wisconsin nonprofit, is selling 250,000 shares in the initial sale, with authority to offer as many as 888,000 shares. When the offering opened at 8 a.m. Tuesday, the Packers sold 1,600 shares in the first 11 minutes. And by the time the offering closes on Feb. 29, the team hopes to have sold $22 million worth, according to Mark Murphy, the Packers president and chief executive. "We have the most loyal and passionate fans in the league," said Mr. Murphy. "People realize it helps the community. They know the team having success helps it stay in Green Bay." But the direct benefits are rather scant, consisting only of an invitation to the annual meeting. The shares don't help fans get hold of coveted seat licenses, for which a team spokesman said there is a 93,000-person waiting list. The shares don't trade on an exchange, and they aren't transferable, except to family members, by gift or in the event of death. And talk about savvy marketing from the front office? The Packers are on a 18 game undefeated streak. Their fans are drunk with power!! Sell high, BABY!! 8) Link to comment Share on other sites More sharing options...
CONeal Posted December 7, 2011 Share Posted December 7, 2011 I know of a couple of people that are stock owners. None of them look at it as an investment in the traditional sense. More along the lines of bragging rights of being owners in their favorite team. Also, the alternative to this would be higher taxes in other NFL cities. Earlier this morning their were already over 1,600 shares already sold. Link to comment Share on other sites More sharing options...
ScottHall Posted December 7, 2011 Share Posted December 7, 2011 Fair points to the both of you. I know of one pure-play publicly traded sports team here in the United States; the Indianapolis Indians. The company is surprisingly profitable. I imagine a lot of that has to do with the fact that the company doesn't pay the salaries of its players. Since it's a farm team for the Pittsburgh Pirates, that team foots the bill. Good luck getting your hands on any shares, though. There are fewer than 800 outstanding, and they trade very infrequently. The company's stock most recently traded in October . . . of last year. The going rate seems to be about $25,000 per share. http://www.otcmarkets.com/stock/INDN/quote Link to comment Share on other sites More sharing options...
Green King Posted December 7, 2011 Share Posted December 7, 2011 Fair points to the both of you. I know of one pure-play publicly traded sports team here in the United States; the Indianapolis Indians. The company is surprisingly profitable. I imagine a lot of that has to do with the fact that the company doesn't pay the salaries of its players. Since it's a farm team for the Pittsburgh Pirates, that team foots the bill. Good luck getting your hands on any shares, though. There are fewer than 800 outstanding, and they trade very infrequently. The company's stock most recently traded in October . . . of last year. The going rate seems to be about $25,000 per share. http://www.otcmarkets.com/stock/INDN/quote how do you know of it profitability where there are no public reports? Link to comment Share on other sites More sharing options...
Tim Eriksen Posted December 7, 2011 Share Posted December 7, 2011 Because it is a sports team. A lot of sports fans in the United States would love to be part owner of a team. It is ironic since there isn't much economic benefit but mostly sentimental. I wish the government would allow the sports teams to be traded publicly but there would be many regulations and work for the SEC. Manchester United in England was publicly traded until it was bought out. I don't think that it is the government preventing it. The leagues don't like it. It has happened in the past. The Cleveland Indians traded from 1998-2000. The Boston Celtics LP traded from 1999 to 2003. Link to comment Share on other sites More sharing options...
ScottHall Posted December 7, 2011 Share Posted December 7, 2011 Fair points to the both of you. I know of one pure-play publicly traded sports team here in the United States; the Indianapolis Indians. The company is surprisingly profitable. I imagine a lot of that has to do with the fact that the company doesn't pay the salaries of its players. Since it's a farm team for the Pittsburgh Pirates, that team foots the bill. Good luck getting your hands on any shares, though. There are fewer than 800 outstanding, and they trade very infrequently. The company's stock most recently traded in October . . . of last year. The going rate seems to be about $25,000 per share. http://www.otcmarkets.com/stock/INDN/quote how do you know of it profitability where there are no public reports? News articles, primarily. I haven't contacted the company for an annual report, but that's because I have no interest in investing in the company. I just take the company's word for it. Hi Tim! He's right, by the way. At least with the NFL, it's unlikely that there will ever be a publicly traded team. If you read the Packers document, you'll notice that the NFL has to approve the sale of any ownership interest in any NFL team. The only exceptions are gifts to immediate family or inheritance if the current owner dies. That's not really conducive to a public listing. Link to comment Share on other sites More sharing options...
DCG Posted December 8, 2011 Share Posted December 8, 2011 Madison Square Garden is very close to being a pro sports play. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now