Bundesliga: Plans for a cooperative at St. Pauli become more concrete

The plans of the Bundesliga football club FC St. Pauli on the planned cooperative for its members are becoming more concrete. With the unusual model in football, the club will reduce debt and invest in infrastructure. “For us, the most important thing is that we can quickly and completely pay off the club’s debts,” said commercial director Wilken Engelbracht to the “Hamburger Abendblatt”.

Supporters of the club can buy a share for 850 euros. All participating members of the cooperative have one vote, regardless of the number of shares purchased.

There will be a savings model for low-income people. The shareholders will also share in the profits. At the beginning, the cooperative will acquire a stake in the stadium, and every paying fan involved will become a co-owner.

Engelbracht: “We are breaking new ground here”

A market research survey had previously gauged the fans’ willingness. The Millerntor Stadium in particular is to benefit from the planned 25 to 35 million euros. “We want to repay the loan for the stadium early. This has a volume of around 15 million euros. “We want to use the remaining funds to repay the Corona loans,” said Engelbracht.

“We are breaking new ground here because we don’t just complain about the forms of football financing driven by traditional investors, but want to show an alternative,” said Engelbracht.

The St. Pauli Football Cooperative was founded on April 1st. The club will soon actively approach fans and push the project forward.

© dpa-infocom, dpa:240925-930-242737/1