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Bundesliga club St. Pauli have taken their love for the team to another level by donating $29.1 million (€27 million) to buy a majority stake in the club’s stadium.
The club confirmed that more than 21,000 people joined the fundraising cooperative to participate in German soccer’s first fan cooperative.
According to reports, each spent $917 (€850) for each share they bought, with $108 (€100) of that going on fees and contributions.
Each purchase entered the buyer in a draw for prizes including a dinner with team captain Jackson Irvine, VIP packages, signed jerseys and more.
Bayern Munich legend Uli Hoeness was among the new stakeholders buying shares.
St. Pauli commercial director Wilken Engelbracht opened up on the importance of the fans’ decision to buy the shares.
He said: “The cooperative will open up new possibilities for FC St. Pauli. By acquiring a majority stake in the stadium, the club will be able to reduce its financial liabilities much quicker than planned.”
The cooperative’s board of directors still has to process outstanding orders and review the figures before acquiring the majority stake in the stadium.
The final results of the subscription phase and the next steps are to be presented to members in May, with the cooperative’s first general meeting scheduled for June.
St. Pauli returned to the Bundesliga after winning the second division title last season, and they are currently seven points above the relegation zone with six matches remaining.
The Hamburg based club defeated Holstein Kiel 2-1 away from home on Saturday to consolidate their 15th position.
