The Green Bay Packers are planning to sell stock to the public in the coming weeks to allow fans to purchase a share of the team, CNN reports. The sale will mark the first such offering to fans since 1997.
"It's all about pride of ownership. It's a great vanity purchase, as a lot of sports teams are, but at a much lower price point," said Sal Galatioto of Galatioto Sports Partners, one of the leading firms involved in the sale of sports franchises. "It's a great thing to hang on the wall."
Shares of the Packers purchased by fans are non-transferable, meaning that even though the shares will cost fans $200 each, there will be no way buyers can profit from them. There are currently 112,158 shareholders who own 4.8 million shares of the stock.