FC St. Pauli's Spectacular Crowdfunding Victory Nets 29.2 Million Euros
Saint Pauli Cooperative reports over 29 million euros in earnings - St. Pauli cooperation earns over 29 million euros in revenue
Ready to kick it? Let's dive into the ear-splitting triumph of FC St. Pauli, a Bundesliga football club based in Hamburg, Germany. This badass club has just announced the unbelievable haul from their shares sale in the Millerntor Stadium, and the numbers are nothing short of staggering.
As of May 7, the football cooperative, known as Football Cooperative Sankt Pauli 2024, accumulated a total of 29.1788 million euros from mid-November 2024 to March 31. The sheer size of this treasure chest means that the cooperative now holds a majority stake in the Millerntor Stadium operating company.
The cooperative is a riotously successful endeavor boasting 22,623 members who snapped up a total of 34,328 shares. Each share is worth a cool 750 euros, with an additional 100 euros for administrative fees and other sweets.
Most cooperative members live in the vicinity of the Millerntor Stadium, with the majority residing in Hamburg. The average age of members is 49.6 years, and 77.2% of them are men. Notable members include Uli Hoeneß, the honorary president of Bayern Munich.
The Cooperative Lures Attention at Home and Abroad
Before the campaign began, the cooperative model represented a unique possibility for financing in German professional football. The model piqued the interest of numerous clubs both at home and abroad and even caught the attention of international media outlets like the "New York Times".
FC St. Pauli almost hit the jackpot with their target of 30 million euros, amassing a slightly less but still mighty 29.1788 million. President Oke Göttlich was both amazed and thrilled by the result. "We've not just achieved a successful cooperative, which we announce today—we have two goals for this season. Our first goal was a successful cooperative, and now here we are!" he declared in an interview with the media.
The other goal, of course, is to dodge relegation. With two games remaining in the season, St. Pauli sits comfortably at 14th in the table, and they're just a win away from securing a place in the Bundesliga this weekend.
A Winning Move in Challenging Times
Andreas Borcherding, the cooperative's board member, acknowledged that the result was impressive, given the "complex, critical environment" they were operating in.
The moolah will be used to pay off loans for the stadium totalling approximately 14.5 million euros, as well as to clear debts from the COVID-19 period. Göttlich assures fans that the money will not be used to beef up the squad.
The first general assembly of the cooperative will take place online on June 20.
- FC St. Pauli
- Bundesliga
- Millerntor Stadium
- Hamburg
- Germany
This cooperative endeavor is more than just raising cash. It's a testament to the power of community, and FC St. Pauli stands alone in the Bundesliga with their unbroken bond with the local supporters in Hamburg, making them a truly grassroots-owned club.
- The phenomenal success of FC St. Pauli's community program, the Football Cooperative Sankt Pauli 2024, has earned shares worth a total of 29.1788 million euros, primarily from residents of Hamburg, Germany.
- These funds acquired from the Millerntor Stadium shares sale will be used to clear debts incurred during the COVID-19 period and pay off around 14.5 million euros in stadium loans.
- The Cooperative's ambitious goal of reaching 30 million euros, while not fully achieved, has still managed to secure a significant majority stake in the Millerntor Stadium operating company.
- The rousing success of the cooperative has caught the attention of various domestic and international media outlets, making FC St. Pauli a beacon for unique financing models in European football.
- Despite concentrating their efforts on this community program, FC St. Pauli is on the cusp of securing a place in the Bundesliga this season, with just two games remaining and a comfortable 14th position in the table.
