Thursday, December 8, 2011

Packer Stock Sale Observations

The packers are selling stock to pay for facilities improvements.

First off, it's $250 per share plus $25 per transaction meaning, effectively, it's $275 for most buyers.

Second, as an NFL team owner, you have some restrictions. Here's the text from the offering document with the obvious stuff removed and the interesting stuff emphasized by me:
"The NFL Rules prohibit conduct by shareholders of NFL member clubs that is detrimental to the NFL, including, among other things, ... publicly criticizing any NFL member club or its management, employees or coaches or any football official employed by the NFL... If the Commissioner of the NFL (the “Commissioner”) decides that a shareholder of an NFL member club has been guilty of conduct detrimental to the welfare of the NFL then, among other things, the Commissioner has the authority to fine such shareholder in an amount not in excess of $500,000 and/or require such shareholder to sell his or her stock. In addition, if the Commissioner determines that a shareholder has bet on the outcome or score of any game played in the NFL, among other things, then the Commissioner may fine such shareholder in an amount not in excess of $5,000 and/or require such shareholder to sell his or her stock. If the Commissioner requires a shareholder to sell his or her stock, then the Corporation may have a right to repurchase the stock at $0.025 per share. See “Transfer Restrictions.”"

In other words, if you smack talk the NFL or a club or even a coach or player you can be fined up to half a million dollars and you may have to turn your $250 share in and get 2.5 cents for it.

Well, I have two things to say to that. All the refs need glasses and the Bears still SUCK!

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