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Green Bay Packers CEO Mark Murphy discusses the team’s decision to offer shares for the fifth time in history.
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-- the Green Bay Packers are one of the most storied teams in football history.
Team also have is -- undefeated right now and defending Super Bowl champion so what better time.
To put it up for sale but it is available to -- -- thanks to a new stock -- offering today.
The fifth in the team's history coming to us now from the Packers all of Lambeau Field is president and CEO Mike.
Mark perfect check mark forgive me for getting your day run the only man to win a Super Bowl ring both as a player and as a chief executive.
Mark thank you for coming in appreciate it.
Now my pleasure -- and it's -- to be here so would you be doing this would you be selling shares if the team didn't have a perfect record right now.
We -- leeway you know this assumption.
-- we've we've looked at the study for awhile -- it's really is around our plans to expand Lambeau Field.
It's a 143 million dollar project.
Expand and enhance Lambeau Field and we're excited about it in a stock sale was one of the ways that we looked at as way to fund it.
We thought about seeking public money but decided against it.
You know just with the economy in Wisconsin.
Political situation within the state we didn't think it -- cents.
To try to seek public money for this project.
So we wanted to to provide an opportunity and and as you mentioned.
On a limited number of times throughout our history -- this is just a fifth time.
The Packers have gone to our shareholders.
And ask for money.
The first three times really were for the survival of the organization and if we hadn't had those stock sales.
Early in the history of the organization there would not be in agreement Packers we'd be some big city somewhere else believes.
Packers have lived and and stride and and and thrived and continue to do well on.
In 1997 was our most recent one and that was really to.
Also for the survival of the organization although it was really focused on the renovation.
That eventually took place in 2003.
This is this is kinda unique and a couple ways number one it's the first time that we will be able sell.
Or have been able to sell the shares on line and we think that'll be very beneficial and helpful to us what one -- -- -- -- markets -- -- -- tied into a project.
-- -- I could just ask what what to folks get -- I know the early investors have made out wonderfully.
And and of course they help the team survived.
But what to current investors get for their money.
Well even gone back and it's not it's never -- -- financial.
Investment you know it's not like a typical stock purchase.
The main benefits to come come come from owning shares in in the Packers are.
Number one you get to attend the annual shareholder meeting you also get the voting rights come of that and the main thing that's voted on is our.
Slade.
Members of the board of directors.
They also and usually around our shareholder meeting and -- by -- Our shareholder meeting is unlike any other shareholder -- takes place right behind me and Lambeau Field we usually have about 151000 people wow.
But we normally have some type of the special event for the shareholders.
We also have special line of apparel.
Specifically for shareholders.
And then when we are able to win a Super Bowl we've put together special collections for.
For shareholders and we did this past year was through Justin's.
Well -- lot of facts out on the fact Michael -- -- our parliament on Gaza.
Are -- -- just aren't there is you wanna -- -- a bit of over talking but I just what what I think is most impressive about this is that you had.
The opportunity to -- to go to taxpayers and to get them to shell out money in and -- do -- that private -- you're you're you're you're you're going into the market to get the cash rather going to taxpayers.
Yeah absolutely and that you know obviously -- discretionary you know no one asked him behind it shares and in and the Packers but.
-- our fans.
Are very -- and the bond that they have to that Siemens is tremendous.
And I I think one of the main reasons that we have such tremendous support from our fans is our ownership structure.
Because of the ownership structure they have a vested interest in the team and and because of that the bond is extremely strong and I think through the -- -- We're gonna.
Strengthen even further the bomb and our fans have to -- By the way very quickly new TV contract.
Is about to -- -- 60% increase in revenue from fox.
NBC and CBS how is that gonna be divvied up that that new money coming in.
Well that's that's what makes and I felt so great is its divided up equally among all -- so.
Even our hair Green Bay with the smallest media market by far.
We get -- manners the New York Jets and giants Wal-Mart.
Murphy your very kind to be with us tonight we really appreciate best of -- with a sale I'm sure it's -- be a sellout Mark Murphy CEO and president -- bay -- thanks again.
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