Green Bay Packers Plan Stock Sale for Next Week, Document Says
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The Green Bay Packers, the only publicly owned franchise in U.S. sports, are preparing for their fifth stock sale next week, according to a document published by the State of Utah Department of Commerce.
In an Oct. 13 letter to the state, Foley & Lardner LLP, a Madison, Wisconsin-based law firm representing the Packers, asked that the Department of Commerce’s Division of Securities waive its regulations and licensing requirements for the team to sell stock in Utah “on or around Nov. 15”. Shares in the National Football League franchise pay no dividends, don’t appreciate and can’t be sold, characteristics generally associated with registered securities.