Green Bay Packers fans in Canada now have the opportunity to purchase shares in the iconic franchise, the organization announced Monday. Approximately 17,000 shares remained available for purchase as of Feb. 14.
The team has clarified Canadian regulatory requirements and is now able to proceed with sales in Canada. The offering will continue until Feb. 29, 2012, unless prior to that date the Packers sell the maximum number of shares that they are offering.
"Since launching our sale in the United States, we've received a lot of interest from our fans in Canada," said Packers President/CEO Mark Murphy. "After receiving approval from the NFL, we have now clarified the regulatory requirements in Canada and are excited to offer ownership to our fans there."
The cost of a share in Canada is US$250, with a US$35 handling charge per transaction.
The remaining shares also continue to be available for purchases by U.S. residents with no change in terms applicable to those purchasers.
All proceeds from the offering will go toward the expansion of Lambeau Field, a $143 million project that includes approximately 6,700 seats, new video boards and two new gates, and will be complete for the 2013 season. A traditional loan also will finance the project, and the team may also obtain funding from the NFL and the stadium district's user fee program.
The Canadian offering document and purchasing information are available online at www.packersowner.com. Fans interested in purchasing shares are required to go online to view the document and make a purchase. Credit cards (Visa, MasterCard and American Express) can be used online. Due to the limited timeframe, purchases will only be allowed online.
Following is a list of offering details:
The price per share is US$250. In Canada, the handling charge is US$35 (no matter how many shares are purchased).
The offering is limited to persons in the United States, as well as Guam, Puerto Rico, the U.S. Virgin Islands and Canada.
Shares can be purchased online with credit cards.
Only individuals (including spouses as joint tenants) are able to purchase shares; individuals can purchase shares as a gift for other individuals (including minors).
No one may buy more than 200 shares.
The offering will continue until Feb. 29, 2012, unless prior to that date the Packers sell the maximum number of shares that they are offering.
Interested fans should note:
Stock in the Packers does not constitute an investment in "stock" in the common sense of the term.
The Packers have no obligation to repay the amount a buyer pays to purchase Packers stock.
Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits.
The offering of Packers stock in Canada is made only through the Canadian offering document.
Purchasers of Packers stock will not receive the protection of Canadian or other securities laws with respect to any offering or sale of Packers stock.
- The Packers bylaws and NFL rules severely restrict transfers of Packers stock.
