The goal proclaimed by FC St. Pauli in the fall of raising €30 million by founding a cooperative seemed ambitious. On Thursday, however, the Bundesliga newcomer took stock and announced that it had come very close to its dream target in the final stages. A great success.
A total of 22,623 members have subscribed to 34,328 shares with a total value of 29 million and 178,800 euros. “This is an outstanding result that moves me deeply,” said President Oke Göttlich. “We are infinitely grateful and incredibly happy about it.” Commercial director Wilken Engelbracht adds: “It is the most successful fan-based financing ever in professional soccer.” It was also supported by prominent figures from the world of soccer, such as Uli Hoeneß.
St. Pauli’s goal at the start of the subscription phase last fall was to demonstrate that, as Göttlich always emphasized, “a different kind of soccer and a different kind of financing are possible.” Now the music entrepreneur is satisfied: “After the failed investor deals, we have developed a constructive solution in professional football. The cooperative is the perfect model for FC St. Pauli: it is grassroots democratic, solidarity-based and sustainable.”
“One of the fastest-growing cooperatives in history”
On Thursday, the members were informed at an information event that the cooperative will now take over the majority of the Millerntor Stadium operating company. The first general meeting will take place on June 20.
Engelbracht says proudly about the development: “The founding of the first cooperative in German professional soccer was a courageous step and also a major effort for the club, but it is all the more gratifying that this courage and commitment have been rewarded. It is one of the fastest-growing cooperatives in the history of the Federal Republic of Germany.”
However, the outstanding economic success and the significant signal sent to society are only intended to be an intermediate step. President Göttlich makes it clear that now, if possible as early as this Sunday in Frankfurt or the day before with the help of Union Berlin against Heidenheim, the last step to another year in the top flight must follow. “Now we want to secure our place in the Bundesliga to cap off a historic season for FC St. Pauli.”
