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PACKERS, FIGURATIVELY SPEAKING, TO DIP INTO STOCK SALE MONEY
Published April 2, 1998
Despite "not coming anywhere near their goal," Packers President Bob Harlan said the team was "not disappointed" with the $24M raised from the recently concluded stock sale, according to Brad Zimanek of the MILWAUKEE JOURNAL SENTINEL. The Packers, who had hoped to raise $80M from the offering by selling 400,000 shares at $200 apiece, ended up selling more than 120,000 shares. Harlan: "The goal was very difficult to determine. We had not tried a stock sale for 47 years and that sale in 1950 netted about $118,000. We really did not know where this would take us." More than half of the shares were sold in WI, but all 50 states were represented, as well as Guam and the U.S. Virgin Islands. With the stock sale, the Packers' "first priority ... is to add a rehabilitative swimming pool" to the team's training facility next to Lambeau Field (JOURNAL SENTINEL, 4/2).