They have fans in every province in the country, in some stadiums they're fans can outnumber the locals. They consider themselves Canada's Team, and now Canada can own a piece of them. The Saskatchewan Roughriders have put themselves on the open market. Hoping to sell 20,000 of the 250 dollar shares, Rider management hopes to be able to sell out, raise the six million dollars and put it to use improving the stadium, installing a better training facility and providing for a more stable financial picture for the team.
There will be two types of shares offered, Type A and B, A shares entitle the bearer to attend the share holder meetings, B share are considered non voting. No individual will be allowed to own more than 20 class A shares, so the team can't be taken over. Since the team is not listed as a charity, the shares will not be tax deductible. You truly will be buying them for the love of the game.
The share sale is taken from the pages of the Green Bay Packers. The Pack had a similar offering in 1997, raising over 24 million dollars for renovations to Lambeau field. The Packers, like Riders have fans all over the world. Saskatchewan can only hope they have half the reaction that Pack got for their sale.
No comments:
Post a Comment