4 ms·

Nearly everything you said here is completely false. > But Packers stock does give holders the right to vote/elect a certain number of directors to the board.

Nearly everything you said here is completely false. > But Packers stock does give holders the right to vote/elect a certain number of directors to the board. The toy stock certificates they give out to the fans that buy them have no voting rights whatsoever. Or any kind of rights at all. It's basically just some packers memorabilia. > Nearly every 10 years they raise funds through a “public offering” of “stock” amounting to hundreds of millions of dollars. what on earth. they do not raise "hundreds of millions of dollars".

PretzelPirate 5y ago
From https://www.newsweek.com/green-bay-packers-ready-sell-stock-offering-team-first-time-almost-decade-1649561?amp=1 https://www.newsweek.com/green-bay-packers-ready-sell-stock-... > Shareholders don't receive any power in the organization aside from an invitation to an annual shareholder's meeting with voting rights to issues decided at the meeting. The stock also pays no dividends to shareholders.
- VWWHFSfQ 5y ago
  Oh ok so they apparently do give them some kind of a little play vote at their yearly "shareholder" fanfest at lambeau field once a year. This thing is like buying a Packers jacket and trying to say you own some of the team...
  - xxpor 5y ago
    That's no different than any other common stock you can buy
  - chipotle_coyote 5y ago
    I'm pretty sure that the Green Bay Packers are in fact a publicly-owned non-profit corporation. A share in the Packers is not the same as a share of common (or preferred) stock, but it is a share in ownership that actually matters. It's very easy to prove this: the Packers have remained in the smallest market in all of North American major professional sports for over a century. They stay there because all those "little play votes" matter.
throwawaycities 5y ago
I’ve worked with the SEC on these matters, where do you get your information? Here is the Packers 2012 Public Offering Document: https://shareholder.broadridge.com/pdf/gbp/offering_document_with_canadian_wrap.pdf https://shareholder.broadridge.com/pdf/gbp/offering_document... see page 7 for the voting rights > On each matter submitted to a vote of the shareholders of the Corporation, the holders of outstanding shares of Common Stock are entitled to one vote per share. Among other things, shareholders vote annually to elect members of the Corporation’s Board of Directors. In terms of the amount the public offering document includes the price $250 per stock and the range 250,000-888,000 shares. These offerings historically sell out in minutes. I could pull the most recent SEC no action letter to confirm the amounts sold, but I don’t think it’s necessary at this point.
- VWWHFSfQ 5y ago
  I'm well aware of what this is and your description of it is quite overblown.
  - throwawaycities 5y ago
    You went from calling everything I said “completely false” and going off on how there are no voting rights, to admitting you are fully aware of the Packers Public Offering Document but that my description is “overblown”. The public offering document speaks for itself and I quoted it, so what’s overblown about the description? If you think it’s fraudulent launch your complaint with the SEC instead of arguing on HN about it and prove your intellectual superiority.
  - fivea 5y ago
    > I'm well aware of what this is and your description of it is quite overblown. Your comments could have some credibility if you provided any information or made any point. Unfortunately you're instead saying nothing and just adding noise to an otherwise interesting discussion.
- deleted 5y ago
  [deleted]
- 5y ago
gbear605 5y ago
Their website [0] seems to disagree with you. They’re currently selling stocks for $300 each and have sold a total of 5,000,000 in the past, suggesting a total raised on $1.5 billion overall. Obviously that’d be in today-dollars, but the current sale has already raised $41 million in the last week or so [1], so the number seems in the right order of magnitude. Certainly having raised “hundreds of millions of dollars” sounds right though I haven’t been able to find reliable sources for the previous stock offerings to confirm. The official stock website [2] also says the following about the voting rights. “Q: How many votes will I receive for purchasing Common Stock? A: You will have one vote for each share of Common Stock you purchase.” I’m not sure what those votes actually count for, but they at least exist. [0]: https://www.packers.com/community/shareholders https://www.packers.com/community/shareholders [1]: https://www.nbc15.com/2021/11/25/packers-stock-sale-nets-more-than-41-million-8-days/ https://www.nbc15.com/2021/11/25/packers-stock-sale-nets-mor... [2]: https://packersstock.com/faq https://packersstock.com/faq
- thesausageking 5y ago
  hrm. Reread the website and I think you'll find it's very much not stock in the normal sense of the word. And they're very clear that you can't make a profit from it (you can't even sell it) and it doesn't given any ownership: >Common stock does not constitute an investment in “stock” in the common sense of the term. Purchasers should not purchase common stock with the purpose of making a profit. > You cannot sell, assign or otherwise transfer shares of Common Stock to a third party, except that you may transfer shares to an “immediate family” member by gift or in the event of death. “Immediate family” is defined as the spouse, children, mother, father, brothers, sisters, or any lineal descendent of a shareholder.
  - gbear605 5y ago
    I agree that it’s not stock in the traditional sense, but neither of the people in the chain above me seemed to think so. Just because it’s not-for-profit doesn’t mean that it can’t sell for a lot (people buy team merch for a lot more) and the vote seems to mean something even if not much.
- deleted 5y ago

PretzelPirate 5y ago

From https://www.newsweek.com/green-bay-packers-ready-sell-stock-offering-team-first-time-almost-decade-1649561?amp=1 https://www.newsweek.com/green-bay-packers-ready-sell-stock-... > Shareholders don't receive any power in the organization aside from an invitation to an annual shareholder's meeting with voting rights to issues decided at the meeting. The stock also pays no dividends to shareholders.

VWWHFSfQ 5y ago
Oh ok so they apparently do give them some kind of a little play vote at their yearly "shareholder" fanfest at lambeau field once a year. This thing is like buying a Packers jacket and trying to say you own some of the team...
- xxpor 5y ago
  That's no different than any other common stock you can buy
- chipotle_coyote 5y ago
  I'm pretty sure that the Green Bay Packers are in fact a publicly-owned non-profit corporation. A share in the Packers is not the same as a share of common (or preferred) stock, but it is a share in ownership that actually matters. It's very easy to prove this: the Packers have remained in the smallest market in all of North American major professional sports for over a century. They stay there because all those "little play votes" matter.

throwawaycities 5y ago

I’ve worked with the SEC on these matters, where do you get your information? Here is the Packers 2012 Public Offering Document: https://shareholder.broadridge.com/pdf/gbp/offering_document_with_canadian_wrap.pdf https://shareholder.broadridge.com/pdf/gbp/offering_document... see page 7 for the voting rights > On each matter submitted to a vote of the shareholders of the Corporation, the holders of outstanding shares of Common Stock are entitled to one vote per share. Among other things, shareholders vote annually to elect members of the Corporation’s Board of Directors. In terms of the amount the public offering document includes the price $250 per stock and the range 250,000-888,000 shares. These offerings historically sell out in minutes. I could pull the most recent SEC no action letter to confirm the amounts sold, but I don’t think it’s necessary at this point.

VWWHFSfQ 5y ago
I'm well aware of what this is and your description of it is quite overblown.
- throwawaycities 5y ago
  You went from calling everything I said “completely false” and going off on how there are no voting rights, to admitting you are fully aware of the Packers Public Offering Document but that my description is “overblown”. The public offering document speaks for itself and I quoted it, so what’s overblown about the description? If you think it’s fraudulent launch your complaint with the SEC instead of arguing on HN about it and prove your intellectual superiority.
- fivea 5y ago
  > I'm well aware of what this is and your description of it is quite overblown. Your comments could have some credibility if you provided any information or made any point. Unfortunately you're instead saying nothing and just adding noise to an otherwise interesting discussion.
deleted 5y ago
[deleted]
5y ago

gbear605 5y ago

Their website [0] seems to disagree with you. They’re currently selling stocks for $300 each and have sold a total of 5,000,000 in the past, suggesting a total raised on $1.5 billion overall. Obviously that’d be in today-dollars, but the current sale has already raised $41 million in the last week or so [1], so the number seems in the right order of magnitude. Certainly having raised “hundreds of millions of dollars” sounds right though I haven’t been able to find reliable sources for the previous stock offerings to confirm. The official stock website [2] also says the following about the voting rights. “Q: How many votes will I receive for purchasing Common Stock? A: You will have one vote for each share of Common Stock you purchase.” I’m not sure what those votes actually count for, but they at least exist. [0]: https://www.packers.com/community/shareholders https://www.packers.com/community/shareholders [1]: https://www.nbc15.com/2021/11/25/packers-stock-sale-nets-more-than-41-million-8-days/ https://www.nbc15.com/2021/11/25/packers-stock-sale-nets-mor... [2]: https://packersstock.com/faq https://packersstock.com/faq

thesausageking 5y ago
hrm. Reread the website and I think you'll find it's very much not stock in the normal sense of the word. And they're very clear that you can't make a profit from it (you can't even sell it) and it doesn't given any ownership: >Common stock does not constitute an investment in “stock” in the common sense of the term. Purchasers should not purchase common stock with the purpose of making a profit. > You cannot sell, assign or otherwise transfer shares of Common Stock to a third party, except that you may transfer shares to an “immediate family” member by gift or in the event of death. “Immediate family” is defined as the spouse, children, mother, father, brothers, sisters, or any lineal descendent of a shareholder.
- gbear605 5y ago
  I agree that it’s not stock in the traditional sense, but neither of the people in the chain above me seemed to think so. Just because it’s not-for-profit doesn’t mean that it can’t sell for a lot (people buy team merch for a lot more) and the vote seems to mean something even if not much.
deleted 5y ago