A few months ago, when it was reported that the Green Bay Packers would have a stock sale to pay for the expansion of Lambeau Field, I thought it would be like printing money. They could offer as many shares as they want and Packer fans would buy them. But as the sale date came closer, I changed my mind. The 1997 sale was for 120,000 shares and raised $24 million. If that's all they did in 1997, I didn't think it would be that much brisker in 2011.
I should have stuck to my first impression. The Packers are selling out quickly. From the Press-Gazette:
The Packers said Thursday they sold 185,000 of an allotted 250,000 shares of team ownership in the first 48 hours of the sale.
They've almost raised twice as much as they did in 1997. I'm sure the rest of the NFL is jealous. It's free money for the team, and they can use it to add over 6,000 additional seats which will generate even more money.