St. Pauli Football Fans Raise Millions in Unprecedented Cooperative Campaign
St. Pauli Cooperative Secures Over 29 Million Euros in Funds - Co-op in St. Pauli generates over 29 million euros in revenue
FC St. Pauli has made waves in the Bundesliga as they announce the staggering sum raised through their unique share sale initiative. The subscription period closed with a total value of 29,178,800 euros, collected between mid-November 2024 and March 31. This places St. Pauli Football Cooperative at the helm of the Millerntor Stadium operating company.
With 22,623 cooperative members, each owning an average of 1.52 shares, the driving force behind this successful venture can be traced to the fans in the vicinity of the Millerntor Stadium. Interestingly, these aren't just local supporters—shareholders span over 44 countries, primarily hailing from Hamburg.
With a majority composed of males aged 49.6 years, the cooperative model was the first of its kind in German professional football. This innovative financing approach piqued the interest of various clubs, both nationally and internationally. In fact, the New York Times reported on the groundbreaking efforts of this fan-led fundraising.
Though the campaign fell a mere 1 million euros short of its 30 million euro target, President Oke Göttlich was thrilled with the results. The cooperative serves as one of this season's two main goals, the other being the avoidance of relegation. With a current 14th place standing, FC St. Pauli is poised for a historically successful season.
Andreas Borcherding, a board member of the cooperative, emphasized the accomplishment, given the campaign's execution within tumultuous global times. The funds will primarily be used to offset stadium purchase loans under 15 million euros and clear debts accumulated during the pandemic. It's worth noting that the raised funds will not be allocated to the squad.
The first meeting of the cooperative will be held online on June 20.
- FC St. Pauli
- Bundesliga
- Millerntor Stadium
- Hamburg
- Germany
Insights:
- The fundraising campaign was a trailblazer in professional football as it was the first fan cooperative in German soccer to enable supporters to buy a majority stake in the club's stadium. [source: 1]
- Fans participated by purchasing shares at 850 euros each, with part of the amount covering fees and contributions. Added incentives included prize draws for dinners with players, VIP packages, and signed merchandise. [source: 1]
- By empowering supporters with direct ownership roles, FC St. Pauli differentiated itself from most professional football clubs, which typically rely on private investors or commercial financing for stadium ownership. [source: 1]
- This fan-driven cooperative allowed the club to reduce its financial liabilities significantly faster than anticipated. [source: 1]
- The successful fundraising by FC St. Pauli, through their unique share sale initiative, has enabled them to acquire a majority stake in the Millerntor Stadium operating company, making headlines in the Bundesliga.
- The cooperative program, a first of its kind in German professional football, attracted 22,623 members, the majority of whom were males aged 49.6 years, hailing predominantly from Hamburg and 44 different countries.
- Although the cooperative fell a million euros short of its 30 million euro goal, President Oke Göttlich expressed satisfaction with the results, as the raised funds will primarily be used to offset stadium purchase loans and clear debts accumulated during the pandemic.
- The funds raised through the cooperative program will not be allocated to the squad, and the first meeting of the cooperative members will be held online on June 20.
