The entire concept of owning part of an NFL team sounds pretty cool, until you realize it’s the Green Bay Packers. Having lived in the Chicago area all my life I’m still surviving off the fumes of the Super Bowl Shuffle. Which should offer some explanation toward my anti-Packer stance. That said, if the Bears offered a similar gimmick stock offering, I might think twice about buying shares, until I saw the price.
The $250 Super Fans Dream
What’s the #1 item on all the Packer super fans Christmas lists this year? Yep, stock in the team and starting today it’s on sale for the low, low price of $250 per share plus $25 shipping and handling. Limit 200 shares per customer.
There’s something to say about the timing of all this. Certainly the shares should sell well. As much as I hate myself for saying it, the team’s actually playing better than last year. But the fact the shares are on sale right before the holidays should give you an idea of what they actually are. Just a good gift. Something to hang on the wall and point to when your Packer friends come over.
1 Lambeau Field Expansion Project
Probably the one good thing out of all this is an improved stadium using no public tax money. So I have to hand it to the team executives for relying on the fans to fund a portion of the expansion costs. Which is how it should be in my mind. Even if a good portion of those fans buying the shares may never get to see the improvements up close, in person. It’s better than adding to the local sales tax or issuing county bonds to fund the project.
Total Investment Value = $0
What does a share of the Green Bay Packers get you? Nothing really. It’s kind of like buying a new car. As soon as you pull out of the lot, that car has already dropped in value. Well the same applies to stock in the Green Bay Packers. You’re not allowed to sell it. No dividends are ever paid. If the team is ever sold, you can’t share in the profits. And the stock can not appreciate in value. The shares don’t even improve your chances of getting season tickets or discounts on merchandise. Which would be a great selling point.
If you’re thinking of buying shares in the Packers. Buy it for bragging rights. Display it on the wall proudly. Build a shrine around it. Just don’t think it’s an investment. It’s a waste of money if that’s the case. The website even pushes that point home pretty well.
Just a side note, we were recently featured in a couple finance carnivals this past week.
20′s Finance – Yakezie Carnival
Afford Anything – Carnival of Personal Finance
Head on over and check them out.