St.Jakob-Park stadium co-operative takes stock of its finances
The Stadion St. Jakob cooperative informs about its financial situation. The stadium, opened in 2001 and home to FC Basel, is in urgent need of renovation. The necessary funds are to be raised by the stadium cooperative through equity, debt, sponsorship, and donations.
The St. Jakob Stadium Cooperative(GSS) has provided information on its financial situation at a general meeting. According to a press release, CHF 3 million must be raised annually for maintenance and urgent renovation costs. The current infrastructure of the stadium, which has been in operation since 2001 and is the headquarters of FC Basel, is no longer up to date. A necessary renovation should therefore reduce costs in the long term and contribute to the economical and sustainable operation of the stadium for the benefit of FC Basel, according to the press release. In order to acquire the necessary capital, equity and borrowed funds are to be raised. The GSS is currently examining how external funds can be raised through sponsorship, donations, crowdfunding and marketing the name. It is also appealing for support from the relevant cantonal authorities.
“The Joggeli is a landmark of the region. It is an institution of public interest that needs to be maintained and cared for,” Mathieu Jaus, Managing Director of GSS, is quoted as saying in the press release. “A modern infrastructure is an important piece of the puzzle for sporting success, the enjoyment of the fans, but also for the appeal of the stadium. We believe in this and want to ensure this together with all our partners and the region.”