St. Pauli supporters have raised over $29.1 million (€27 million) for a majority stake within the Bundesliga membership’s stadium after participating in German football’s first fan cooperative.
The Hamburg-based membership stated Tuesday greater than 21,000 other folks joined the fundraising cooperative after a close to five-month subscription duration ended at a minute to middle of the night the night time sooner than.
St. Pauli stated there were a “massive rush” of other folks purchasing stocks to be part-owners of the Millerntor Stadium within the ultimate hours.
They every spent $917 (€850) for every proportion they purchased, with $108 (€100) of that happening charges and contributions. Every acquire entered the consumer in a draw for prizes together with a dinner with group captain Jackson Irvine, VIP applications, signed jerseys and extra.
Bayern Munich powerbroker Uli Hoeness, who arranged a get advantages sport for St. Pauli in 2003 when the membership used to be in monetary issue, used to be a few of the new stakeholders purchasing stocks.
“The cooperative will open up new probabilities for FC St. Pauli,” industrial director Wilken Engelbracht stated. “Via obtaining a majority stake within the stadium, the membership will have the ability to cut back its monetary liabilities a lot sooner than deliberate.”
The cooperative’s board of administrators nonetheless has to procedure remarkable orders and evaluate the figures sooner than obtaining the bulk stake within the stadium. The general result of the subscription section and the following steps are to be introduced to participants in Would possibly, with the cooperative’s first normal assembly scheduled for June.
St. Pauli used to be promoted again to the Bundesliga as second-division champion ultimate season. The group is lately 3 issues transparent of the relegation zone with seven rounds last.
“We now need to use the momentum from the subscription section to succeed in our subsequent large objective, and to succeed in Bundesliga survival,” membership president Oke Göttlich stated.
