FC St. Pauli's Spectacular Share Sale Raises Over 29 Million Euros
St. Pauli Cooperative Successfully Acquires Over 29 Million Euros - St. Pauli cooperative generates over 29 million euros in earnings
After the subscription period ended, Bundesliga football club FC St. Pauli has finally revealed the grand total raised from the sale of shares in the Millerntor Stadium. A whopping 29.1788 million euros were subscribed between mid-November 2024 and March 31. This magnificent haul means that the Football Cooperative St. Pauli now holds the majority of the Millerntor Stadium operating company.
With 22,623 members jumping aboard, the cooperative has issued a mind-boggling 34,328 shares, each worth 750 euros, and other associated fees. It's a pretty impressive average of 1.52 shares per member, with shareholders hailing from not just Germany but an additional 44 countries. The German city of Hamburg is clearly the home base of these supporters, according to a press statement.
Joining the ranks of this dedicated group is Bayern Munich's honorary president Uli Hoeneß. The average age of these passionate football enthusiasts? A rather spry 49.6 years, with a majority of them being male (77.2%). It seems achieving success on the pitch isn't the only thing on these folks' minds!
The cooperative model had been a novel idea in German professional football before its inception, drawing widespread attention and interest. Clubs from Germany and around the world watched the campaign unfold with bated breath. Even international media giants like the "New York Times" couldn't resist covering the story.
Whilst FC St. Pauli just narrowly missed its goal of raising 30 million euros, ending up with over 29 million instead, President Oke Göttlich remained thrilled by the results. He remarked during a media interview that the season's goals for the club were two-fold - "one, a successful cooperative" (which they've certainly achieved), "and two, avoiding relegation." The team is currently standing strong at 14th in the table and hopes for a history-making season in order to secure its place in the league this weekend.
Andreas Borcherding, a board member of the cooperative, pointed out that the incredible result was accomplished amidst highly turbulent global times. With that kind of money raised in such a challenging climate, it's no wonder FC St. Pauli is feeling mighty proud!
The funds will be used to pay off loans for the stadium amounting to nearly 15 million euros and clear debts from the corona period. This will provide the club with more fiscal freedom to invest wisely. Rest assured, Göttlich clarified that the money won't be used to bolster the squad.
The first general assembly of the cooperative will take place online on June 20.
- FC St. Pauli
- Bundesliga Football
- Millerntor Stadium
- Hamburg
- Germany
Additional Insights:
The financial support from the fans will enable FC St. Pauli to reduce its financial liabilities faster and secure a majority stake in its stadium. This move offers new opportunities for the club, including more control over stadium management, potential fan engagement, and additional revenue streams. The cooperative also underscores the strong bond between the club and its fan base, demonstrating the power of community-driven initiatives in football and setting a potential precedent for other sports organizations to follow suit.
- The spectacular share sale by FC St. Pauli has raised over 29 million euros, with 34,328 shares issued to 22,623 members, thereby granting the Football Cooperative St. Pauli a majority share of the Millerntor Stadium operating company.
- FC St. Pauli's fan base spans from Germany to an additional 44 countries, with Hamburg being the home base of these supporters.
- With this newfound financial support, FC St. Pauli plans to use the funds to pay off existing loans for the stadium and clear debts from the corona period, allowing for more fiscal freedom to invest wisely.
- The cooperative model, which gives fans a stake in the club, underscores the strong bond between FC St. Pauli and its fan base, demonstrating the power of community-driven initiatives in football and potentially setting a precedent for other sports organizations to follow suit.
