So let’s see, should I buy shares of Apple or maybe JP Morgan or how about Verizon, with its 5.22% dividend yield. Nah, I think I’ll buy some shares in my beloved Green Bay Packers. They want a new stadium, so I’m going to support the team. Well, that’s what some Cheeseheads are doing today, dropping $250 to buy a share of the Packers. Trouble is the share’s don’t appreciate nor pay a dividend. Oh yeah, you can’t even sell the shares! It’s purely for the love of the team:
Green Bay Packers fans purchased $400,000 worth of shares in the first 11 minutes as the National Football League team’s fifth stock sale began today.
The only publicly owned franchise in U.S. sports, the Packers want to raise $62.5 million with the sale that started at 9 a.m. New York time. Shares cost $250 dollars and are available via mail or online at PackersOwner.com.
The website urges fans to “believe in legendary excellence” and to “become a shareholder in what you believe.” The stock pays no dividends, doesn’t appreciate and can’t be sold. (Bloomberg)
What do you think? Are you rushing to PackersOwner.com to get yourself a share of Packer nation? Heck, you’ve got to give the Packers credit, their fans are loyal and love their team, especially when you think about the fact that this is a small market and not say LA or New York. But that’s what you’ve got to do if you want to raise money. Props to them and their fans.