Last week, we applauded Boise State’s idea of selling stock to its fans. Like the Packers have done, the shares have no value, but the certificate makes a nice collectors item.
We loved this because it’s a great way of raising money without having to give up anything.
Yesterday, I checked in on how sales were after a week.
The athletic department has sold more than 1,600 shares at $100 apiece, according to Brad Larrondo, senior assistant athletic director for marketing and promotions.
“We think it’s just the tip of the iceberg,” Larrondo said. “We’re telling our fans, go out and buy some shares to avoid Black Friday or take care of your Broncos fan for Christmas.”
Larrondo said the school has sold shares to people in at least 10 states and even has sold some outside the country.
“We’re very satisfied where we are right now,” Larrondo said. “And we’re obviously hoping to ride the wave from a potential announcement into a BCS game.”
The Broncos, whose football team is 10-0, are currently ranked No. 6 in the BCS.
The school said it would sell up to 200,000 shares of "stock."
Said Larrondo: “We’re hoping we can raise into the millions, which will help us on some projects we’re working on."
Questions? Comments? SportsBiz@cnbc.com