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Sale of Packers Stock Turns Paper Into An Amazing Business
CNBC.com | December 06, 2011 | 03:50 PM EST

The Green Bay Packers are literally printing cash.

The thus far undefeated and reigning Super Bowl champions are selling stock for the fifth time in their history today.

The shares are said to have an actual value of about 3 cents, but the Packers are selling them for $250 each.

It offers almost no benefits other than a place at the annual meeting and a piece of paper proving that you're an owner. The shares haven't been approved by the SEC, don't appreciate and won't move you up the season ticket waiting list.

So why do the Packers do this?

Well, because they are remarkably good at selling almost nothing for a lot of money.

The last time the Packers did this, in 1997, they raised $24 million. This time, the goal is $20 million. While the goal is to peddle 80,000 shares, they are allowed to sell up to 880,000 shares. If they sold all of those, that would be $220 million.

"It's an interesting kind of hang-in-your-office piece of paper," said Drew Brooks, a displaced Packers fan who went to see the team play against the Giants In New Jersey on Sunday. "It has no real value, but the coolness is there. At the same time, it's kind of hard to swallow the idea of a $250 piece of paper."

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