If you've ever wanted to own a piece of your favorite sports team, then now might be your chance.
That is, if you happen to be an NFL fan who supports the Green Bay Packers.
At 9 AM Eastern Time Tuesday, 300,000 shares in the Green Bay Packers will be made available to the public at $300 apiece. The sale, which will run through February 25, was approved in late October by the National Football League, with funds being used to improve the team's stadium. It is the sixth such sale, its first taking place in 1923 and the most recent in 2011.
Usually, when you buy a stock it means that you have partial ownership in that business. The same basic principle with this sale.
However, that's about where the similarities end. Unlike a normal piece of stock such as Tesla or Apple, you cannot sell your Packers shares, they don't increase or decrease in value, and they don't afford you any voting power. So basically, you're just buying a symbolic piece of ownership of the four-time Super Bowl champions.
If you're a mega-fan, then the urge to do so is understandable. People buy their favorite teams' memorabilia and uniforms all the time, this is no different.
However, if you believe that you're buying a piece of stock with intrinsic value that could increase over time, then you'd better take a step back -- this isn't that. In the team's own words via a press conference yesterday:
"Anyone considering the purchase of Packers stock should not purchase the stock to make a profit or to receive a dividend or tax deduction or any other economic benefits."
So, there you have it. Don't buy for the wrong reasons.
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