Plenty of Packers fans made sure on Tuesday that they ordered Packers stock in time to put the certificate under the Christmas tree.
The Packers wouldn’t provide complete numbers on how many shares they sold Tuesday, but 28,000 shares were sold in the first two hours and twenty minutes alone, according to the Green Bay Press-Gazette.
At $250 apiece, that’s $7 million of revenue in less than three hours. 250,000 shares are available overall, which means the Packers can (and probably will) make $62.5 million from the stock sale by the time it’s over.
The Packers are essentially printing money and don’t have to do anything for it. More power to them.
On one hand, it seems insane that a certificate which entitles its owner to virtually nothing could be such a cash cow. On the other hand, I’d probably buy it for my dad if he happened to be a diehard Packers fan. (He’s not.)
It’s worth wondering if other teams could somehow replicate this business model, but the fantasy of “ownership” just wouldn’t make sense in any other town.
Despite that, we are considering a sale of PFT stock to all our readers. It will cost the same as a year’s subscription to the site.
