Green Bay Packers' stock sale under way

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Dec 6, 2011 at 11:35 am

MADISON, Wis. (AP) - Green Bay Packers President Mark Murphy says the team sold more than a thousand shares in the opening moments of its stock sale.

Murphy said in a teleconference with reporters the team sold 1,600 shares online in the first 11 minutes of the sale Tuesday morning.

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The sale marks the fifth time in the Packers' 92-year-history the publicly owned team has sold stock. The team has put 250,000 shares up at $250 each plus a $25 handling charge per order.

Murphy says the team hopes to generate at least $22 million to help defray the cost of a $143 million renovation project at Lambeau Field.

The stock has no financial value and can't be resold. The stockholder can vote on team business and attend annual meetings, though.

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