The cheese is going fast.
The Green Bay Packers, the NFL’s only publicly owned team, said Thursday that it sold 185,000 shares in the first 48 hours of a stock sale that began Tuesday morning. That’s almost three-fourths of the 250,000 shares made available in the fifth stock offering in team history.
The team set a Feb. 29 deadline for the sale, but at the current rate all available stock will be gone long before that as fans – the famous cheeseheads – snap up shares.
The team is selling shares for $250 each, plus a $25 handling fee. As of Thursday, the Packers have raised about $43 million, which will go toward a $143 million expansion of Lambeau Field. Plans call for adding 6,700 additional seats, new high-definition video screens and a new entrance by 2013.
“The expansion will enhance the stadium experience for fans, increase our team’s home-field advantage and ensures that Lambeau Field continues be a source of pride for fans everywhere,” said Mark Murphy, team president and CEO. “We’re humbled by the response from our fans and their desire to help the Packers achieve long-term success.”
The shares went on sale at packers.com. Stock can only be purchased by individuals, not businesses, and there’s a 200-share cap, a figure that includes any stock purchased during the last sale in 1997.
The stock isn’t an investment in the traditional sense: Its value doesn’t increase, there are no dividends, it has nearly no re-sale value and it won’t give buyers a leg up on the 93,000 people on the waiting list for season tickets.
What buyers get is a piece of paper declaring them a team owner, voting rights and the right to attend the annual stockholder meeting at Lambeau each summer before training camp. They also get access to a special line of shareholder apparel.
Lindell on IR
The Buffalo Bills placed kicker Rian Lindell on injured reserve.
The decision to place the former Washington State kicker on IR was not a surprise, and came a month after the 12-year veteran broke a bone in his right shoulder.
Lindell missed the past four games and became the ninth Bills regular to be placed on the season-ending list. Journeyman Dave Rayner has taken over the kicking duties after being signed on Nov. 8, two days after Lindell was hurt making a diving tackle in a 27-11 loss to the New York Jets.
Lindell says he still had limited movement in his shoulder.
Coach Chan Gailey’s biggest concern was the kicker aggravating the injury if he was required to make a tackle. Gailey added the latest test results on Lindell’s injury were not good.
Vick, receivers expected to play
The Philadelphia Eagles’ offense should get a boost this week, although it might arrive too late to save the team’s season.
For the last four weeks, the offense that started hot has been missing at least one of its top weapons. Quarterback Michael Vick and receivers Jeremy Maclin and DeSean Jackson have not played together since the team’s Nov. 7 loss to the Bears. All are expected to be on the field together again Sunday, putting the team’s top talent back into the passing game.
Manning not expected back
Indianapolis Colts owner Jim Irsay is confirming what most have long suspected: Peyton Manning probably won’t take a snap this season.
Irsay told an Indianapolis television station that he “doesn’t see” even a glimmer of hope of getting No. 18 back on the field this year.
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