FC St. Pauli's large annual surplus paints a lopsided picture

FC St. Pauli generated a surplus of 16.7 million euros in the 2025/2026 financial year. The second division soccer team announced this on its website at the same time as the general meeting at the CCH in Hamburg. The increase was significantly higher than the previous year at a good two million euros. The club emphasized that the profit was made possible by a one-off effect, the participation of Football Cooperative St. Pauli von 2024 eG in the stadium company. This effect was estimated at 14.5 million euros.

Around 23,000 people joined the cooperative, which was founded in spring 2024. In total, more than 29 million euros were raised. In November 2025, the cooperative took over the majority of the stadium company and thus the Millerntor Stadium.

Without the one-off effect, the surplus would have been two million euros. “This result is also characterized by special income, in particular through transfer proceeds and additional income from the DFB Cup,” the statement said.

In terms of operational business, FC St. Pauli fell short of its economic expectations. The club wrote that revenues from merchandising in particular were weaker than planned. Jerseys and other Pauli fan paraphernalia have long been one of the club's growth drivers.

"The 16.7 million euros are a great success, but not a new business model. We must not confuse one-off income with permanently available funds," said Vice President Hanna Obersteller. “What is crucial is that we used these funds to sustainably strengthen our financial basis.”

Liabilities fell from 22.4 million to 4.8 million euros and equity increased from 5.5 million to around 19.5 million euros. Due to relegation after two years in the Bundesliga, the neighborhood club has to expect less income, especially due to lower TV revenue. This requires “consistent economic adjustment,” it said.