Beginning Tuesday, Green Bay Packers fans will be allowed to purchase stock in the team for just the sixth time in history, the organization announced Monday.
The Packers, the only publicly-owned franchise in North America’s four major professional sports leagues, have not offered fans an opportunity to purchase shares since 2012, but will do so beginning at 8 a.m. Tuesday.
“We appreciate the interest that fans have expressed in our sixth stock offering,” Packers President and CEO Mark Murphy said in a statement.
Additional details will be announced when the offering opens on Tuesday, but the team did offer some limited information.
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The price per share will be $300, and fans will be limited to purchasing 200 shares. If fans already own shares in the team, then they will only be allowed to purchase a number that will put their total number of shares at 200, according to the club.
Only residents of the United States, Guam, Puerto Rico and the US Virgin Islands will be able to purchase shares on Tuesday. Only individuals will be allowed to purchase shares.
A total of 300,000 shares will be offered, meaning that the offering could potentially raise up to $90 million for the team.
The offering will continue until Feb. 25, 2022, the team says.
The team also issued several reminders for fans about the nature of the stock, including the following conditions:
-Packers stock does not come with traditional features of stocks, including appreciation in value, dividends, tax deductions, or other benefits.
-The Packers have no obligation to repay the amount a buyer pays to purchase the stock.
-The Packers “do not believe” that stock owners will receive protection of securities laws.
-The transfer of Packers stock is “severely restricted” by team and NFL rules and bylaws.
The formal offering document and other information will be available online on the team’s website once the offering officially opens. Purchases of stock can be made on the team’s website using credit cards, debit cards and electronic bank transfers, or through the U.S. Postal Service via personal or cashier’s checks.