FC St. Pauli

The minimum target was for the cooperative to raise the 20 million euro needed to acquire a majority stake in the Millerntor Stadium operating company; based on market research, however, the aim was to bring in around 30 million euro. Having raised 29,178,800 euro, this target was just about achieved.  

Almost 35,000 shares subscribed

The cooperative's 22,623 members subscribed to a total of 34,328 shares. On average, each member acquired 1.52 shares. 

The majority of members are male (77.2 per cent) and the average age is 49.6. It is striking that the vast majority of members come from Hamburg. The postcode areas around Millerntor Stadium dominate the top of the list. 

Oke Göttlich, President of FC St. Pauli:

"The cooperative is the perfect model for FC St. Pauli - rank-and-file democracy, solidarity and sustainability. After the failed investor deal, our constructive solution shows that a different type of football and a different type of financing are possible in the professional game. We now want to put the icing on a historic season for FC St. Pauli by securing our Bundesliga status. I'd like to thank the members and everyone involved for this outstanding result, which moved me deeply. It's incredible what this community is capable of." 

Wilken Engelbracht, FC St. Pauli Commercial Director and member of the cooperative's supervisory board:

"The successful foundation and outstanding subscription phase are a milestone for FC St. Pauli. It will allow the club to invest more in future projects. Establishing the first cooperative in German professional football was a bold step and a major effort for the club, so all the better that this courage and commitment have been rewarded. We'd like to thank the cooperative's presidential board, all the helpers and supporters, partners and employees, and all the members who have invested in a model built on solidarity and sustainability!"

Andreas Borcherding, Chairman of the FCSP Cooperative:

"It has been a busy few months with an outstanding outcome. The assumptions from the market research proved to be very robust. All the same, we were overrun, especially at the beginning and towards the end of the subscription phase. Though we'd expected there to be lots of enquiries at the beginning and at the end, the rush was greater than we’d hoped for. There's even a waiting list of people who are interested. They may be able to acquire shares from other members or be involved in the cooperative's next project."

Miriam Wolframm, Vice-Chair of the FCSP Cooperative:

"The result of almost 30 million euro places enormous responsibility on the board. Many people have put their trust in the cooperative and invested in the model. We know that 850 euro for a share is a lot of money for many members, so we're therefore aware of our responsibility and would like to thank everyone from the bottom of our hearts for their fantastic support and trust. The cooperative is like a dream come true. With this cooperative, FC St. Pauli is showing that a different kind of football really is possible!"

First general meeting in June

On 8 May, the board presented the final outcome of the subscription phase to the members of the cooperative and informed them about the next steps. This now concerns the actual acquisition of Millerntor Stadium by the FCSP Cooperative and its members. 

The cooperative's first general meeting will take place on 20 June.

Photos: FC St. Pauli