Packers Sell Shares To More Than 268,000 In Stock Offering

The Packers finished their fifth stock offering yesterday and today announced that more than 268,000 shares were sold, including to more than 250,000 new shareholders, during the offering that began Dec. 6. With previous offerings, the club now has more than 360,000 shareholders. Proceeds totaling about $67M will be used for the expansion of Lambeau Field, a $143M project expected to be competed by the '13 season. Wisconsin residents purchased about 50% of the shares, followed by Illinois and California, each at 8.5% (Packers).

Packers President & CEO Mark Murphy said the sale was "humbling and overwhelming." He added that the team "still is planning on applying for an NFL loan." Murphy: "The stock sale really allowed us to borrow less and gave us much more flexibility" (JSONLINE.com, 3/1).