Almost 30 million euros: St. Pauli at the goal of their dreams

FC St. Pauli's goal, announced in the fall, of raising €30 million by founding a cooperative, seemed ambitious. But on Thursday, the newly promoted Bundesliga club took stock and announced that it had come very close to reaching its goal in the final stages. A great success.

22,623 members have purchased shares in the Millerntor Stadium Operating Company. IMAGO/Oliver Ruhnke

A total of 22,623 members subscribed for 34,328 shares with a total value of €29 million and €178,800. "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 added: "It is the most successful fan-based financing ever seen in professional football." It was also flanked by prominent supporters from the world of football, such as Uli Hoeneß.

St. Pauli's goal at the beginning of the subscription phase last fall was to demonstrate that, as Göttlich always emphasized, "a different kind of football and a different kind of financing is possible." Now the music entrepreneur states with satisfaction: "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, based on solidarity, 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 acquire a majority stake in the Millerntor Stadium Operating Company. The first general meeting will take place on June 20.

Engelbracht speaks of the development with pride: "The establishment of the first cooperative in German professional football 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 social message should only be an interim step. President Göttlich makes it clear that the final step toward another year in the top flight should now follow, ideally as early as next Sunday in Frankfurt or the day before with support from Union Berlin against Heidenheim. "Now we want to achieve relegation in the Bundesliga to complete a historic season for FC St. Pauli."