They’re not really selling stock. They’re passing the hat. And on the first day of doing so, the hat filled up quickly.
Via the Green Bay Press Gazette, the Packers on Tuesday sold 83,000 of 300,000 available shares. That’s $24.9 million in free money.
And even though it’s a donation with a piece of memorabilia attached to it (there’s also a $35 “handling fee” for each certificate issued), fans can choose to spend their money however they want. Frankly, it’s far better to have the team’s fans give money voluntarily than for billionaire owners to use threats of relocation to compel politicians to find a way to use taxpayer money to pay for stadium construction and/or renovation without a public vote.