While the first three stock sales were made to keep the team from insolvency, the current sale and the last one in 1997 were made in order to upgrade the stadium. The current stock sale will pay for the addition of 6,600 seats to the south end zone in time for the 2013 season.
More on this amazing situation, a group of fans who own an NFL team, from Packers.com:
Green Bay Packers, Inc., has been a publicly owned, nonprofit corporation since Aug. 18, 1923, when original articles of incorporation were filed with Wisconsin’s secretary of state.
A total of 4,750,937 shares is owned by 112,158 stockholders none of whom receives any dividend on the initial investment.
Fans have come to the team’s financial rescue on several occasions, including four previous stock sales: 1923, 1935, 1950 and 1997.