St. Pauli fans buy majority stake in Bundesliga club's stadium
In a landmark moment for German football, supporters of FC St. Pauli have successfully raised over 27 million euros to acquire a majority stake in Millerntor Stadium.
st-pauli-millerntor-stadium16This marks the first fan cooperative of its kind in German football history.
The fundraising effort, which lasted nearly five months, saw more than 21,000 people join the cooperative. Each share cost 850 euros, with 100 euros allocated to fees and contributions.
A surge of last-minute purchases in the final hours pushed the campaign over the line, ending just before midnight on the final day.
To incentivise participation, buyers were entered into a prize draw, with rewards including dinner with team captain Jackson Irvine, VIP packages, and signed jerseys.
Among the notable investors was Bayern Munich legend Uli Hoeness, who had previously aided St. Pauli during financial struggles in 2003.
While the funding goal has been met, the cooperative's board still needs to process outstanding orders and finalise figures before officially securing control of the stadium.
"The cooperative will open up new possibilities for FC St. Pauli," commercial director Wilken Engelbracht said.
"By acquiring a majority stake in the stadium, the club will be able to reduce its financial liabilities much quicker than planned."
The final fundraising results will be presented in May, with the first general meeting scheduled for June.
Meanwhile, on the pitch, St. Pauli, promoted to the Bundesliga last season as second-division champions, currently sit three points above the relegation zone with seven matches remaining.
