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The original was posted on /r/soccer by /u/Simppu12 on 2024-10-01 11:40:15+00:00.

the German club will start selling a majority stake in the Millerntor-Stadion to their own supporters after forming the first cooperative in football history.

The Millerntor is worth an estimated €60m (£50m/$67m). The plan is to sell shares in the new cooperative and then use the resulting revenue to purchase a controlling stake in the stadium — raising up to €30m in the process. The club will use those funds to pay off debt, including from the pandemic shutdown, and invest in its sporting infrastructure.

A four-person board, drawn from long-term supporters who live and work locally, has already been appointed and the share sale is due to begin in October. One share will cost €850 (£709/$948). While there are no restrictions on how many can be bought, multiple shares will not equal multiple votes, meaning that no shareholder can exert more democratic power than any other.

Essentially, they will determine what happens at the stadium whenever it’s not being used for football. The club will continue to receive all matchday revenues, but the shareholders will determine the rate of the club’s rent and how much the cooperative earns from St Pauli.

The statutes of the new organisation will also prevent it from interfering in the operational business of the club itself, or from making decisions that would harm St Pauli.