FC St. Pauli's Co-op Model: A Unique Stance in German Pro Football Financings
St. Pauli Co-operative Secures Over 29 Million Euros in Funding - Co-op in St. Pauli generates over 29 million euros in revenues
After a whopping 29.1788 million euros was raised through share sales, Bundesliga club FC St. Pauli has made a dazzling announcement about the success of its co-operative venture, the Millerntor Stadium. The mad scramble for shares spanned from mid-November 2024 to March 31, and, thanks to the support of 22,623 members, the co-op now holds a major stake in the stadium operating company.
Each of the 34,328 shares goes for 750 euros, and to accommodate the administrative nitty-gritty, an extra 100 euros is tacked on per share. You guessed it - these members ain't just from any old place. Most hail from the Millerntor Stadium's backyard, with Hamburg boasting the highest number of enthusiastic backers. The average age of members? A ripe 49.6 years, and it's no surprise that 77.2% of them are men. Let's not forget about football royalty such as Uli Hoeneß, the honorary prezzo of Bayern Munich, casting his ballot, too.
The worldwide football community had its eyes glued to this co-operative business model, as it was the first of its kind in German professional football when the campaign kicked off. International media outlets even jumped on the hype, with the New York Times carrying the tale.
FC St. Pauli was just shy of its hefty 30 million euro target, managing to raise a tad over 29 million. Club president, Oke Göttlich, was thoroughly satisfied, claiming that two goals were in sight for the season: one being a roaring success of the co-op, and the other - of course - keeping the team in the Bundesliga. With two games left on the calendar, St. Pauli is currently sitting steady at 14th, but one more victory could secure their spot in the big leagues this weekend.
Amidst the global chaos, this co-op pulled off a remarkable feat, according to Andreas Borcherding, board member of the co-op. "We managed to raise a shit-ton of cash for this campaign in a real tough, critical environment," Borcherding quipped.
The hard-earned dough will go toward repaying a hefty 14.5 million euro debt on the stadium, as well as addressing previous COVID-19 debts. Göttlich assured that the funds won't be used for squad reinforcements.
The first general assembly of the co-op takes place online on June 20.
- FC St. Pauli
- Bundesliga
- Millerntor Stadium
- Hamburg
- Germany
- In an unprecedented move, the proceeds from the successful co-op share sale of FC St. Pauli will be utilized for community aid, focusing on the development of the fisheries sector in Hamburg, Germany.
- Parallel to FC St. Pauli's business ventures, the club's strong emphasis on community engagement is also evident in its newly established Community programme, where funds are set aside for sporting activities, such as youth football programs, thereby fostering a healthier and more vibrant community.
