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CFO: St. Pauli can "establish itself in the Bundesliga"

Wilken Engelbracht is convinced of the Kiezclub's potential. At the same time, the new commercial director faces economic challenges.

View of the Millerntor stadium of FC St. Pauli. Photo.aussiedlerbote.de
View of the Millerntor stadium of FC St. Pauli. Photo.aussiedlerbote.de

Soccer - CFO: St. Pauli can "establish itself in the Bundesliga"

Wilken Engelbracht is convinced of the potential and attractiveness of second-division soccer club FC St. Pauli. This is "a club that can establish itself in the Bundesliga and is good for the first division", said the new commercial director of the Kiezclub on Tuesday at a media event in the Hanseatic city.

The 50-year-old has been working for FC St. Pauli since November 1 and faces a challenging economic task. Due to the start of the repayment of the corona loans and other financial obligations, the club will have to raise an additional six million euros per year. Added to this is the interest burden.

"That won't cause sleepless nights, but it's also not the ideal that the club has stood for for many years," said Engelbracht. To make matters worse, FC St. Pauli posted its worst result for many years in the 2022/23 financial year with a loss of around five million euros.

The cooperative model presented at the general meeting is intended to help generate new equity. According to Engelbracht, this is to be registered and founded in the first half of 2024.

The aim of the commercial director is to release funds to reduce the club's debt and strengthen the sport. There is potential for this in the 62 million euro turnover. For example, more than 50 percent is accounted for by non-personnel costs such as energy and insurance. However, the personnel side of the club must also be looked at "with a sense of proportion". Marketing the stadium name remains a non-issue. "That's a discussion we won't be having," said Engelbracht.

Reaching the quarter-finals of the DFB Cup, in which FC St. Pauli will face second division rivals Fortuna Düsseldorf on January 30, has been of great financial benefit. A place in the semi-finals is not necessary, but could help with many steps on the way, says Engelbracht.

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Source: www.stern.de

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