GREEN BAY, WIS. - The Green Bay Packers sold more than 268,000 shares of stock and raised nearly half of the money needed to help the planned expansion of historic Lambeau Field.
Shares were purchased at $250 apiece during the 12-week sale, netting the club about $67 million. The money will be used toward the $143 million project that will add about 6,700 seats, two high-definition video boards and two new entrance gates.
"The response to the offering by our fans was overwhelming," said Packers CEO Mark Murphy. "We enthusiastically welcome our new shareholders from across the country and Canada, as well. We thank them for their support of the stadium expansion that will help us achieve success in the long term, and provide an enhanced game day experience that will continue to thrill our guests."
The team's total number of shareholders has grown from 112,000 to more than 360,000.
Stadium upgrades are expected to be completed for the start of the 2013 season.