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The Green Bay Packers, the only publicly owned franchise in US sports, are preparing to launch their fifth stock sale next week, according to a document published by the State of Utah Department of Commerce.

In an Oct. 13 letter to the state, Foley & Lardner, a Madison, Wis.-based law firm representing the Packers, asked for a waiver of regulations and licensing requirements for the team to sell stock in Utah “on or around Nov. 15.” Shares in the NFL franchise pay no dividends, don’t appreciate and can’t be sold, characteristics generally associated with registered securities.

The Packers, at 8-0 the only undefeated team in the NFL this season, last sold stock in 1997, when they raised $24 million to update Lambeau Field. On Aug. 25, six months after the team won its fourth Super Bowl title, club President Mark Murphy announced the Packers were considering another stock sale as part of a $140 million renovation to the 54-year-old stadium.

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