Boise State Broncos go public with athletic program, will sell stock shares to anyone, everyone
Boise State University announced today that the athletic department is for sale, specifically as a non-profit corporation that is selling shares to the public starting right now. Want to make decisions as they relate to Boise State athletics? Then mortgage your future and get to an ATM, my friend.
Details and reaction after the jump.
KTVB has extra details on the announcement. Thanks to Don Day for being on top of things.
For $100 per share, anyone can buy stock in the new corporation, and will have the ability to vote on a board of directors that will oversee and make decisions related to the school's athletics programs - including football and other programs. The initial share offering will be $20-million.
Money raised will go to facilities, not staff or coaches.
Boise State Broncos, Inc. will be modeled on a similar idea put forth by the Green Bay Packers of the NFL.
Shares of stock are already for sale on the Bronco Athletic Association office.
As a Bronco fan, how does this make you feel? Are you going to buy shares? Is it just another money-grab for the athletic department? Let's talk about it in the comments.
Update: My immediate reaction: Are the Broncos that hard up for money? Don't get me wrong; I love the idea of being able to own stock in my favorite college team. But this seems like a very strange way to raise money.
As far as I know, this is unprecedented in college sports. Most college teams lean heavily on rich boosters rather than create an IPO. Boise State has a lot going for it, but an announcement like this shows that surviving in college football is a very expensive undertaking, even for teams who seem to be at the top.
Of course, it is just as important to note my second reaction: How can I free up $100? I am totally going to buy into this thing because of one very important aspect of the announcement:
the ability to vote on a board of directors that will oversee and make decisions related to the school's athletics programs
That's right. Stock owners will be able to decide on the people who decide what to tell the people who ultimately decide. Democracy WIN! And who's to stop me from nominating OBNUG commenters for the board of directors. Nobody, that's who.
Even if there is little chance that my opinion will change the course of Boise State football history, I like the idea of being able to say, "I am a shareholder in the Broncos. Now give Doug Martin more carries." The going public idea is genius inasmuch as it gives diehard fans the sense that they are making an impact. Oh, how I envy rich people at this time.
Update: KTVB says that the funds will initially be used to improve the basketball lockerrooms and Bronco Stadium track removal and seat expansion. Yay.
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59 comments
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Comments
Are there any other university athletic departments operating like this? It sounds rather novel.
by Egnowit on Nov 11, 2009 12:49 PM PST reply actions 0 recs
I'm not aware of any
That’s what was so surprising to me. Other schools don’t necessarily need income streams like this. They can get by with boosters, state funding, whatnot. You gonna buy in, Egnowit?
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 11, 2009 2:44 PM PST up reply actions 0 recs
I haven’t decided yet. While I can probably afford $100 for one share, I’m also cheap thrifty.
by Egnowit on Nov 12, 2009 11:22 PM PST up reply actions 0 recs
Rate of Return
What is my ROI on this stock?
by Bronco DB on Nov 11, 2009 12:52 PM PST reply actions 0 recs
No different than a BAA Membership
This is really nothing more than another way to generate donations. I’m sure haters will absolutely jump all over this as asinine and stupid and greedy and whatever else they will use to shoot holes in this. But, this isn’t a ‘real’ stock. It won’t be listed. It won’t be traded daily. There aren’t any dividends, other than seeing facilities upgrades. Which is enough for me.
I look at it this way. I went to my first game at 3 years in 1977. I graduated some 20 years later. I already feel like I have partial “ownership” of this program. Now, I can donate another hundred bucks (which is far less than my usual annual gift to the university) and get a cool certificate for my wall.
Count me in.
I have attended every home Boise State football game since 1992.
by JasonHaberman on Nov 11, 2009 12:53 PM PST reply actions 1 recs
Good perspective, JHabes
For those who haven’t paid for a BAA Membership, I bet the idea of owning stock in their team is much more exciting than whatever BAA gets you. Credit BSU for approaching this in a unique way. How much do you think Boise State could have charged before seeming greedy? $250? $500?
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 11, 2009 2:51 PM PST up reply actions 0 recs
A BAA memberships gets you...
A chance to buy a $650 parking spot.
A chance to open bidding at $500 for a sideline pass.
2 tickets to the player’s meet and greet August BBQ (actually pretty cool).
And the occasional (monthly) first-name basis solicitation calls.
Obviously you're not a golfer...
by ty_ol on Nov 11, 2009 8:21 PM PST up reply actions 0 recs
Im a Packers fan
And they have been doing this in Green Bay with great success for awhile. you don’t get dividend or any return, no perks as far as seating goes but you do get to cast votes on decisions on the athletic depts. future. Its all about pride, and $100 comes and goes and plus i would love that certificate and to know i chipped into expanding bronco stadium
KELLEN MOORE FOR HEISMAN
by ASP1223 on Nov 11, 2009 12:54 PM PST reply actions 0 recs
Hell yeah I'm in!
Just to say that I own a piece of Billy Winn.
"After chasing sunsets, one of life's simple joys is playing with the boys." - Top Gun
by Crissie on Nov 11, 2009 1:40 PM PST reply actions 0 recs
Barcalona/Real Madrid/Seattle Sounders
If you look at some football teams in Europe, they have been very succesfull at building and expanding almost every aspect of their team by giving their fan’s a voice, and a sense of ownership of the club. The peole that “own shares” get to vote on a new GM every 4 years. I can’t wait to get my shairs.
by BSUTHROWBALLFOREVER on Nov 11, 2009 1:48 PM PST reply actions 0 recs
It's spelled...
Futbol.
I love the colors Orange and Blue. Go Broncos!!! Go Titans!!!
by TitanBronco on Nov 11, 2009 2:44 PM PST up reply actions 0 recs
It’s “shares” and it doesn’t matter what country you are in.
by Ihavenofriendzz on Nov 13, 2009 6:06 PM PST up reply actions 0 recs
I'm definitely in...don't know if it'll be for just 1...or go all out and buy whatever I can...
probably depends on how drunk I am when the website opens up…I’m hoping for just 1, though…but, we’ll find out Friday morning!
If playing in blue uniforms on a blue field is an unfair advantage, then isn't wearing green uniforms on a green field also an unfair advantage?
by TheShrewdOne on Nov 11, 2009 2:13 PM PST reply actions 0 recs
Skeptical...
What stops AQ alumni coming in to buy up the stocks, then screw up everything. Or worse yet, Idaho fans buying up all the stock.
I love the colors Orange and Blue. Go Broncos!!! Go Titans!!!
by TitanBronco on Nov 11, 2009 2:42 PM PST reply actions 0 recs
Yeah, good point
Fortunately, I don’t think Vandal alumni make enough at their part-time jobs at Wendy’s to buy too much stock.
Still, the thought of Craig James owning a piece of the Broncos makes me visibly sick. Would he be the least welcome shareholder in Bronco Nation? Mark May might give him a run for his money.
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 11, 2009 2:53 PM PST up reply actions 0 recs
????
Is this what the press conference was for?
by summitkopp on Nov 11, 2009 3:06 PM PST reply actions 0 recs
I'm down!
This seems like a great idea to me. Green Bay Packer’s fan are known for their fiery loyalty, team pride, and foam-rubber cheese hats. Green Bay is the smallest market in the NFL, yet one of the most storied and enduring teams. I applaud the effort to give the fans of Boise State that chance to be involved. We complain about facilities, now we can do something about it. Besides, Boise State seems like about the best investment you can get right now. Sure beats a .5% interest on a CD.
by Rand McNalley on Nov 11, 2009 3:38 PM PST reply actions 0 recs
How 'bout this?
It would be cool if OBNUG were to become a recognized ownership group. Maybe even get their own grouping of seats in the stadium…complete with scowl free stand-up cheering and fist pumps.
by Rand McNalley on Nov 11, 2009 3:40 PM PST up reply actions 2 recs
Excellent idea, Rand
There are plenty of OBNUG faithful that support the team in many ways but find $100 a bit steep at present. We certainly should mull over having a fractional stock bought and paid for by OBNUGers.
by Drew Roberts on Nov 11, 2009 4:51 PM PST up reply actions 0 recs
I'm all for it ...
… just FYI (I might post about this later) I’m buying a share today for OBNUG. If we could organize other shares to be bought under this site, that would be awesome.
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 12, 2009 7:03 AM PST up reply actions 0 recs
I’d probably be more willing to buy a share as part of a cooperative effort like this than just myself.
by Egnowit on Nov 12, 2009 11:23 PM PST up reply actions 0 recs
genius
I don’t think it this sounds like ‘greediness’ on the part of Boise State, but more like a long-term plan for improving the over-all athletic program. Let’s think about it; relying on winning the Fiesta Bowl and getting into BCS bowls as the main revenue to bring serious amounts of mony into the program, then Boise State as a school will only progress based upon the success/failure of the football program. This sounds to me like a way to continually pour money into all the programs year after year regardless of how well the football program does. Anything earned at bowl games is just extra then.
More money means more scholarships and better facilities which means we’ll attract more and better athletes. This can only mean goodness for the future of Boise State.
by CaptainBronco on Nov 11, 2009 3:44 PM PST reply actions 0 recs
lets do this
i LOVE the idea of having obnug buy stock into this thing, we can then raise more money and vote on issues on this forum for whoever it is that votes on the council regarding issues @ boise state. That we we could have more voting power.
by bsudayas on Nov 11, 2009 6:10 PM PST reply actions 1 recs
State money
Does this mean the athletic department can no longer receive state funding?
by Jeremy Mauss on Nov 11, 2009 7:18 PM PST reply actions 0 recs
Good question, Jeremy
I haven’t heard anything in this regard, so I think the state funding will still come in. Maybe it’s because the corporation will be non-profit or income will only relate to facility upgrades? I’m not sure on the specifics.
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 12, 2009 7:05 AM PST up reply actions 0 recs
You are right,
It is a not-for-profit charitable corporation, which is a separate entity from the school itself. You buy the “shares” from the corporation, they will donate the money to the school and the school will use the money to upgrade the facilities. The “share” is nothing more than a donation certificate that will give you an opportunity to vote for future boards of directors.
Catch me on the BroncoNation Podcast!
by OBNUG Intern on Nov 12, 2009 9:29 AM PST up reply actions 0 recs
True
If the shares are for facilities only and not for coaches salary that seems correct. But, the state should keep an eye on where that money goes. Not to say any wrong doing would going on but there better be an eye on where this money goes.
And if I pay enough can I call a play or give the halftime speech?
by Jeremy Mauss on Nov 12, 2009 6:23 PM PST up reply actions 0 recs
Perks?
If I buy a share I want the list of BCS schools that turned down games against us.
by Cougarflounder on Nov 11, 2009 7:26 PM PST reply actions 0 recs
don't take this the wrong way
but let’s call a spade a spade. does anyone think this is anything more than a fund drive? that’s all it is; a cute gimmick. let me ask a question. let’s say i bought some shares of this ‘stock’ and a year or two later lost my job and needed to raise some cash. would i be able to sell my shares for what i bought them for? i guessing not. i’m pretty certain that i wouldn’t be able to sell the certificate for more than about 50 cents at a garage sale. it’s not an investment. it’s a donation.
i love the broncos and don’t mind contributing but i would appreciate a little honesty from the program. this is simply a scheme to raise funds. it’s a novel idea but to call it a non-profit corporation rubs me the wrong way. to me, to sell shares implies that there is some value or equity attached to each share. this isn’t the case here. any improvements made to buildings or facilities would belong to the university not to a ‘corporation’. not only is there no return on investment there’s no value to the ‘stock’. who came up with this idea? bernie madoff?
that said, i’ll pony up a hundred bucks so i can frame and display my one share of boise state broncos inc. and pretend i’m in with the high finance crowd. i might even be able to scratch up a couple of dollars to buy a cheap cigar to smoke to complete my fantasy as i sit in my den and watch the broncos play at home because i can’t afford to go to the game.
This is national TV. So don't pick your noses or scratch your nuts.
by joe bob priddy on Nov 11, 2009 7:32 PM PST reply actions 0 recs
Gimmick?
Isn’t that how Boise State is? The Blue turf was a gimmick, now it is legendary. I am not really trying to defend this “ownership” thing, I am still skeptical about the whole thing.
I love the colors Orange and Blue. Go Broncos!!! Go Titans!!!
by TitanBronco on Nov 11, 2009 10:31 PM PST up reply actions 0 recs
this idea should catch on
I can see other schools in the non-BCS doing this to attempt to keep pace with the BCS. This is really a brilliant idea, and yes while there are regular donors with this people will feel even closer to their University then all ready as a donor. Also, some schools have a pretty high minimum to get into a donor club or something like that.
by Jeremy Mauss on Nov 12, 2009 6:24 PM PST up reply actions 0 recs
Cheapskates!...Put a crowbar in your wallet and buy some f@cking stock...if you don't want to help, please stop bitching about our stadium seating capacity...this is a real chance for fans to pitch in!!
Why the hell would any real BSU fan not buy stock?? Put your money where your mouth is!! I am buying 3 shares…because I believe in supporting the program. The only way that our stadium can expand is by alumni and fan donations. Phil Knight footed a huge portion of the cost to build expand Autzen Stadium; where the hell is our sugar daddy(nudge…nudge…Simplot fam). I love the idea of a couple hundred thousand fans doing the same thing?
We need to close the the South Endzone!! The stadium looks like it is half finished. With the success the Broncos have had this past decade, it is a complete joke that we have a 33,500 seating capacity…in a valley with a population of 600,000!
by csf68 on Nov 11, 2009 8:54 PM PST reply actions 0 recs
wow
This is insane. If this isn’t simply a cheap money-raising gimmick and really is a packers-like move, I am definitely in for at least 100.
by killtacular on Nov 11, 2009 11:38 PM PST reply actions 0 recs
blah
I should have read the article:
“The goal, raise 20 million dollars by selling shares at 100-bucks a piece. Bleymaier says the stock does not earn you any privileges, it does not appreciate and stockholders do not receive dividends.”
…
“It is just a fancy way of creating another fundraiser,” said Petso. "But it’s not an investment in anyway shape or form. You’re just giving $100 to BSU. That’s it. You really don’t own part of the team.
Bleymaier says the 12 man board is already selected. All of them long time contributors to the University."
So, never mind.
by killtacular on Nov 11, 2009 11:42 PM PST up reply actions 0 recs
First, why wouldn't you want to donate $100, to the team you love?...Second, the Packers shareholders also do not receive dividends...you do get to vote for or against board memebers...each stock is worth 1 vote, the more stock you buy the more votes!
by csf68 on Nov 12, 2009 6:21 AM PST up reply actions 0 recs
Oh, dividends are completely unimportant, but if the 12 man board is already selected and the stock does not earn you any privileges, I can’t see how you actually get to vote, or “make your voice heard” or anything else that was talked about in the OP.
And I don’t want to donate money because I am a poor, poor graduate student.
by killtacular on Nov 12, 2009 4:38 PM PST up reply actions 0 recs
I will donate.
After I finish grad school and make more than Coach Pete. Then, I will build a statue of him.
"You know where i'm from, a little suspicion about one's true identity and motives is considered good manners."
-- Nale
by Loque on Nov 12, 2009 9:39 PM PST up reply actions 0 recs
I want to name something after me. Perhaps a free weight in the weight room.
by killtacular on Nov 12, 2009 10:54 PM PST up reply actions 1 recs
That's awesome.
If you do that, then I’ll name one of the cork boards after me. Maybe the one that holds “locker room” material.
"You know where i'm from, a little suspicion about one's true identity and motives is considered good manners."
-- Nale
by Loque on Nov 13, 2009 10:27 AM PST up reply actions 0 recs
The stock sales are targeted at the community and not "poor" starving students...having been a starving student I believe that you could make it happen if you really desired...it is called sacrifice for your team...it is something that diehard fans do!
by csf68 on Nov 13, 2009 6:35 AM PST up reply actions 0 recs
thanks for that comment
dickhead
by killtacular on Nov 13, 2009 10:09 PM PST up reply actions 0 recs
After I win my Idaho bets...
Just as soon as I collect on my bets for Idaho to cover the spread and for both teams to score 64 or more points, I’ll celebrate my two years as a Bronco and buy $100 worth of whatever it is. First my beloved Vandals have to cover the spread (or better yet beat your blue and orange registers).
by Spikeidaho on Nov 12, 2009 5:15 PM PST up reply actions 0 recs
Awesome!
Mark me down for one! Love it
by SoundPound on Nov 12, 2009 12:11 AM PST reply actions 1 recs
I am still thinking it over...
This is clearly just a gimmick cash grab by the athletic department. I am not sure that is a bad thing. Fund raising has dried up and the announcement has ignited fans that normally wouldn’t donate to think about forking over $100.00 for a certificate.
The “stock” has no dividends and does not appreciate in value. I question if it has any resale value since the announcement said if they sell the 200,000 shares, they will make more available. It is not an investment, it is a donation.
The thing that has me excited is, why move forward with this gimmick now? The teams performing, the economy is recovering, why does the university need funds for facitilites in a rush? My guess is that MWC expansion is on the horizon but a requirement would be an expanded stadium.
If they were to say, pay $100 and we go to the MWC I would hand it over in a second. Otherwise, I am skeptical that the department has to result to some deception in order to raise the funds needed. Skepticism and deception aside, I still may log on and buy a share.
"...east and west is the problem, north and south the solution."
by MKingery on Nov 12, 2009 7:20 AM PST reply actions 1 recs
My guess is that MWC expansion is on the horizon but a requirement would be an expanded stadium.
Favorite theory yet. This intrigues me. I thought the timing was odd, too.
"I eat success for breakfast - with skim milk!" - Tony Perkis
by Kevan Lee on Nov 12, 2009 10:16 AM PST up reply actions 0 recs
oooooo
Yeah – I bet you guys are right on. And I love what csf68 is saying… I’m a poor college student with five dependents and I’m still going to organize a bake sale or something if that’s what it takes. I don’t care of it’s a gimmick – I love me some Broncos.
"After chasing sunsets, one of life's simple joys is playing with the boys." - Top Gun
by Crissie on Nov 12, 2009 10:30 PM PST up reply actions 1 recs
Not only a good way to enlist fans to raise money for the athletic dept.
But also a good way to weed out, or at least expose the fair-weather, band wagoneers.
Boise State - The best in all the land (The "land" being Idaho, and large parts of California, Oregon, and Nevada.)
by Mikrino on Nov 12, 2009 8:30 AM PST reply actions 1 recs














