Buzzing on Yahoo Sports:

Packers raised $70 million from sale of stock

Shutdown Corner

View photo

The Green Bay Packers sold more than 268,000 shares of stock during its limited run, raising nearly $70 million for planned renovations to Lambeau Field.

Single shares of stock in the publicly owned team went on sale in December. At the time, team president Mark Murphy said he hoped the team would generate $22 million by offering the $250 shares to fans.

Though purchasers of the stock get little more than a certificate and nominal voting rights, the offering was a huge hit, particularly in Wisconsin. Over half of sales were to residents of Green Bay's home state.

The stock isn't worth anything -- it doesn't rise and fall like publicly traded shares. That's drawn criticism from analysts, particularly CNBC's Darren Rovell, who can't believe that people would spend $250 on something that has "no value."

Is it really that hard to believe? Football fans like to spend money on things that connect them to their teams. Tickets, jerseys, programs, memorabilia; it's all under the same umbrella. In a broad sense, you could make the argument that each of these things is frivolous, I suppose. Surely the $200 you spend for tickets, parking, food and drinks at a game can go to a greater cause. But once you accept the fact that all people make purchases that an economist would deem irrational, is an embossed piece of paper with an official Green Bay Packers logo all that different?

Other popular content on the Yahoo! network:
Meeting of MVPs: Aaron Rodgers drops by Brewers camp, visits with Ryan Braun
Flurry of franchise tags could dampen NFL free-agent market
Y! TV: Best and worst athletes in acting

Win cash prizes, pick a fantasy roster for just one day, join in minutes!

Learn how to play

Contest Entries Entry Fee Prizes Starts (EDT)
EPL $1K Tournament [$100 to 1st] 200/228 $5 $1000 In 43 minutes Enter
NHL $1.3K Tournament [$125 to 1st] 631/1478 $1 $1300 Today 12:30 PM Enter
NHL $1K Tournament [$100 to 1st] 91/228 $5 $1000 Today 12:30 PM Enter
View Comments (1)