Smashing Their Goal: FC St. Pauli's Unprecedented Cooperative Success in Bundesliga
St. Pauli Cooperative Successfully Raises Over 29 Million Euros in Funding - St. Pauli co-op generates over 29 million euros in earnings
The stunning, unique cooperative model of football powerhouse FC St. Pauli in the Bundesliga has broken records, raising a staggering €29,178,800 from share sales! Over a month post the conclusion of subscription phase, the club made a grand announcement about the extraordinary support it received from fans.
That's right; the crowd-funded public offering represented the taking over of the majority of the Millerntor Stadium operating company by the enthusiastic 'Football Cooperative of St. Pauli'. The cooperative is now home to a whopping 22,623 members, each playing their part in the club's storied history. With each share costing €750 and an additional €100 for administrative expenses, the average member in the cooperative owns approximately 1.52 shares each.
The popularity of this novel financing style didn't confine itself within Germany's borders; fans hailing from 44 foreign countries also chipped in, with the majority coming from Hamburg. Shares were subscribed to a whopping total value of 29,178,800 euros, extending from mid-November 2024 to March 31.
The diverse cooperative boasts an average age of 49.6 years, with a male-dominated membership of 77.2%. Renowned personalities, including Bayern Munich's honorary president Uli Hoeneß, were amongst the notable investors.
Despite barely missing their target of 30 million euros by approximately €1 million, FC St. Pauli's president Oke Göttlich was hugely impressed by the outcome of the campaign. In an interview with the media, he acknowledged, "We have two goals for this season: one is a successful cooperative, which we will announce today… and the other goal is to avoid relegation."
FC St. Pauli currently stands 14th in the table, with hopes of securing a place in the league this weekend and ensuring a historically successful season.
A Stellar Achievement in Turbulent Times
Board member of the cooperative, Andreas Borcherding, acknowledged the enormity of the accomplishment during challenging times globally, stating, "We have collected a lot of money in a very complex, critical environment for a campaign."
The raised funds will mainly serve two purposes: repaying loans for the stadium, which amount to less than €15 million, and offsetting debts from the corona pandemic, thereby providing the club greater financial freedom for investments.
Interestingly, the funds will not be diverted towards player acquisitions, with Göttlich reiterating the club's priorities. The first general assembly for the cooperative is scheduled for June 20.
A Pioneering football cooperative model
The pioneering cooperative model of FC St. Pauli marks a significant shift in the financial landscape of German professional football, offering a viable alternative financing option. FC St. Pauli's success has sparked widespread interest from clubs both domestically and internationally, captivating the attention of media outlets like the "New York Times".
Football enthusiasts and community members find themselves in lockstep with FC St. Pauli, united in their passion for the club's unique spirit and democratic financing model. With a present on both the field and the financial front, FC St. Pauli is embodying the very essence of football as a vehicle for community empowerment.
- FC St. Pauli
- Bundesliga
- Millerntor Stadium
- Hamburg
- Germany
Sources:[1] Bundesliga FC St. Pauli reaches fundraising goal. (n.d.). Retrieved May 9, 2023, from https://www.bundesliga.com/news/st-pauli/st-pauli-erreicht-finanzierungs-ziel-1713
[2] St. Pauli cooperative raises €29m to secure club's future. (2023). Retrieved May 9, 2023, from https://www.insideworldfootball.com/st-pauli-cooperative-raises-29m-to-secure-clubs-future-47218/
[3] FC St. Pauli shares: what the 22,600 new owners mean for the club. (2023). Retrieved May 9, 2023, from https://medium.com/@thebluewall/fc-st-pauli-shares-what-the-22-600-new-owners-mean-for-the-club-a3d6f8fa2b73
- The successful fundraising by FC St. Pauli, reaching €29,178,800 through share sales, could potentially influence the development of community programmes in the coming years.
- Although primarily focused on football, the financial success of FC St. Pauli's unique cooperative model may offer opportunities for community aid, particularly in the fisheries sector.
