FCSP co-op launch on 10 November "most important project since the stadium new build"
Wednesday, 30. October 2024, 15:45 Uhr
The subscription phase for the Football Cooperative Sankt Pauli 2024 eG begins on 10 November. FCSP president Oke Göttlich called it the most important project for the club since the stadium new build.
The subscription period for shares in the Football Cooperative Sankt Pauli 2024 eG begins on 10 November. From this day on, all members, fans, well-wishers and other interested parties can purchase shares in the FCSP eG (registered cooperative society). Each share costs 850 euro – 750 euro for the share, 32 euro in management fees and 68 euro for reserves for the co-op.
The sale of the shares is intended to raise as much as 30 million euro, with which the cooperative will purchase a majority stake in Millerntor Stadium.
"A different financing method is possible"
"The cooperative is the perfect model for FC St. Pauli," said club president Oke Göttlich. "It gives members and fans a stake under application of a general democratic rule - everyone has one vote irrespective of the number of shares purchased. It's the most important project for FC St. Pauli since the Millerntor Stadium new build. We aim to show that not only is a different kind of football possible but also a different kind of financing!“
As Wilken Engelbracht, FC St. Pauli commercial director and member of the cooperative supervisory board, explained: "The injection of new capital via a cooperative is much more relatable to members than a spin-off of the professional football section, an involvement of investors or the sale of merchandise rights. The only question really is why no one thought of it before."
"The world's first cooperative in professional football“
The cooperative managing board is made up of Andreas Borcherding (chair), Miriam Wolframm, Thomas Collien and Christopher Heinemann. "We have the great honour of being responsible for the first cooperative in the professional game anywhere in the world," said Borcherding.
Commenting on the announcement made by FC Schalke 04 concerning the formation of its own cooperative, the FCSP eG managing board said: "Although the Schalke project looks a bit different, we think it's a great step because we're convinced by the cooperative model and are happy to see additional associates in the football world."
The subscription phase is set to run until the end of January 2025.
