On the terraces: Schalke launch stadium cooperative as German fans mark key anniversaries

In a weekly Newsletter, Matt Ford keeps an eye on the action off the pitch in the Bundesliga and German football, explaining what’s going on from fan protests to finances.

After the launch of FC St. Pauli's stadium cooperative in October and the relaunch of 1. FC Union Berlin's stadium share scheme in November, FC Schalke 04 followed suit last week with their own Fördergenossenschaft or "support cooperative." Like in Hamburg and Berlin, Schalke are hoping to raise funds not by selling club equity to external investors but by issuing stadium shares to fans. It's a creative financial strategy which offers a potential alternative business model for football clubs – although it didn't get off to a brilliant start.

Elsewhere this week, 80 years on from the liberation of Auschwitz, German fans marked Holocaust Memorial Day with various banners and choreographies, while Hertha BSC supporters marked the anniversary of the death of former president Kay Bernstein with an emotional display.

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Matt Ford's "On the terraces" newsletter will continue to appear every week throughout the 2024/25 Bundesliga season. Last season, the newsletter featured exclusive and in-depth coverage of the Bundesliga's private equity plans and the political intrigues at VfB Stuttgart, among other things. If you like what you see, please consider taking out a paid subscription.