Green Bay (OnFocus) – The Packers have received the NFL’s approval for a potential stock sale to help fund improvements at Lambeau Field. There remain regulatory hurdles to any offering.
NFL Commissioner Roger Goodell has determined that a stock sale would meet the appropriate conditions established in 1997 for such a sale to raise funds for stadium renovation.
The Packers have undertaken significant stadium improvement projects recently. Multiple phases of concourse upgrades already completed, combined with planned new video boards and additional concourse upgrades, result in an estimated total cost of $250 million.
Funds raised from a potential stock sale would support those projects, with the Packers not seeking any public tax dollars.
The Packers have had five stock sales in their history. They took place in 1923, 1935, 1950, 1997 and 2011.
The 2011 sale, with shares priced at $250, added more than 250,000 new shareholders and raised $67.4 million toward a new entrance tower and viewing platform in the north end zone and an expansion that added roughly 6,600 seats to the south end zone. That project was completed in 2013.
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Author: David Keech
David Keech is a retired teacher and works as a sportswriter, sports official and as an educational consultant. He has reported on amateur sports since 2011, known as 'KeechDaVoice.' David can be reached at [email protected]
