A State of Utah Department of Commerce document shows that the Packers, the only publicly owned franchise in U.S. sports, are “preparing for their fifth stock sale next week,” according to Novy-Williams & Kuriloff of BLOOMBERG NEWS. Wisconsin-based law firm Foley & Lardner LLP, which represents the Packers, in an Oct. 13 letter to the state asked that the Department of Commerce’s Division of Securities “waive its regulations and licensing requirements for the team to sell stock in Utah ‘on or around Nov. 15.’” The letter “outlines three main differences between this year’s planned issuance and the 1997 sale.” Each share will “likely be sold for more than the $200 that was charged in 1997.” The letter noted “it may be $250.” In addition, entities may be “allowed to purchase shares at a higher price than individuals; and shares will be available for purchase online” (BLOOMBERG NEWS, 11/8). In Milwaukee, Don Walker noted the stock sale is “part of an ambitious plan to raise money to expand Lambeau Field by approximately 6,600 seats.” The expansion plan -- estimated “to cost $143 million -- is expected to be ready in time for the 2013 season.” The Packers have “about 112,000 shareholders around the world” (JSONLINE.com, 11/8).
