Packers stock sale expected by end of October
GREEN BAY, Wis. (AP) -- The Green Bay Packers are expecting to receive league approval for a stock sale by the end of October.
Team spokesman Aaron Popkey says there are some different financial regulations this time, compared with the last sale, and the Packers are working through those details.
Popkey says National Football League approval is expected because the team is using the revenue for stadium improvements, not operating expenses. The Packers are planning $143 million in improvements at Lambeau Field, including another 6,600 seats.
The Green Bay Press-Gazette (http://bit.ly/pbwXDS ) says the last stock offering in 1997-1998 raised $24 million. Shares sold for $200. The stock doesn't pay any dividends, but owners have the right to vote on directors and other organization business.
Information from: Green Bay Press-Gazette, http://www.greenbaypressgazette.com
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