Frequently asked questions
FAQ
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Why should I become a co-owner of the Stadium An der Alten Försterei?
Union Berlin stands for original football culture, which is inseparably linked with the Stadium An der Alten Försterei. By buying your ‘Alte Försterei Share’ for €500, you will be becoming a co-owner and will thus in future take decisions along with all other shareholders on any fundamental matters that directly affect the stadium and thus Union Berlin's self-image as a club.
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Why should I become a shareholder despite having previously had no interest in either Union Berlin or the Stadium An der Alten Försterei?
If you love football in its original form and appreciate the character of a traditional football ground, then the Stadium An der Alten Försterei is the place for you! By buying a share you are supporting traditional football culture at a fan-built stadium, the like of which you will find nowhere else in Germany. And you will be supporting the approach of a club that does not rely on complete commercialisation and capitalisation of all of its rights, but instead puts its faith in its members being involved and having a say.
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Are ‘Alte Försterei Shares’ the sort of ‘fan bonds’ that have been common in professional football recently, which get used for general club funding or in this case for funding the main stand?
No. These are not ‘fan bonds’ to fund the main stand. Unlike shareholders, subscribers of ‘fan bonds’ have no rights of participation in relation to the duties defined by a company’s articles of association for its shareholders’ general meeting. They are neither co-owners nor do they share in the company’s profits.
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What happens to my money?
The money is being invested solely in the infrastructure of the Stadium An der Alten Försterei. The intention is to further develop the entire complex. In addition to reducing the level of third-party capital and thus the interest costs for the construction of the main stand, the plan is also to build a fan house with a fan pub and space for fan clubs and the fan liaison team. The continual improvement of the existing structures is also a task of the stadium company.
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Is construction of the new main stand and fan house definitely going to start in 2012?
The planning application for the new main stand is likely to go in before the end of the year. When construction can begin depends on how long the authorities take to process it. We are hoping to start construction immediately after the end this season. Construction of the fan house will begin once the main stand is finished, so probably in 2013.
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How do I become a co-owner of the Stadium An der Alten Försterei?
The stadium operating company has been a joint stock company since 6th October this year. By buying an ‘Alte Försterei Share’ you become a shareholder in this company.
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Who is allowed to buy shares?
All Union Berlin members and contractually committed sponsors have the right to acquire shares. Anyone who is not yet a member or sponsor has until 30th November 2011 to become one and thus to secure their right to subscribe.
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What specifically do I have to do to become a shareholder?
Every individual or company entitled to purchase shares can pick up a subscription form – the official ‘Alte Försterei Shares’ order form – from the company’s offices or can download the form from www.stadion-an-der-alten-foersterei.de. Forms will be available by no later than the start of the subscription period. Two copies of the completed subscription form must be received at the company’s offices before the end of the subscription period. They can be dropped off personally, sent by post or faxed.
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If I fill out the subscription form will I definitely get the shares I want?
No. A maximum of 10,000 shares are being issued. As each person entitled to purchase shares can subscribe for up to ten, the issue could quickly become oversubscribed. Shares will be issued based on when the completed subscription form is received. Getting your order in early increases the probability that you will get the share(s) you want.
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When will I get my share(s)?
When the subscription period has closed, all interested parties will be informed whether their order can be fulfilled. As soon as payment has been received for 25% of the shares subscribed for, the company’s increase in share capital will be entered into the register of companies. The fully paid-up shares will then be issued.
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Who else will be shareholders?
The other shareholders are 1. FC Union Berlin and the founding members of the stadium company, i.e. Röfa, Hinze Stahl, VierC and Thomas Koch. Following the full increase in share capital, the members will own 58.82% of the total equity and the football club will own 23.58%. The remaining 17.6% will be shared between the founding shareholders.
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Will the club’s first-team players also become shareholders?
If they are Union Berlin members or sponsors, then that is a possibility.
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Why are only members and sponsors being allowed to buy shares?
The Stadium An der Alten Försterei is the very soul of Union Berlin and the home of our football culture. The only people who should become shareholders are people who acknowledge this football culture and commit themselves to it. Anyone who is a Union Berlin member or who supports the club as a sponsor has clearly opted in a visible way for our kind of football culture. Anyone who is not yet a member or sponsor has until 30th November 2011 to become one and thus to secure their right to subscribe.
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Can members aged under 18 become shareholders?
Yes. In this case the completed subscription form must also be signed by a parent or guardian.
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Why are sponsors also being allowed to become shareholders?
Just as being a member is a sign of commitment to our culture, we also regard current sponsorship or financial support of Union Berlin by companies as a commitment to the traditional football culture of the Stadium An der Alten Försterei.
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Why do the shares cost €500 each?
The joint stock company’s initial share capital is €3.5m. The aim is to place a majority of the equity into diverse ownership by increasing the capital. To achieve this, proceeds of at least c. €3.6m need to be generated. We anticipate that by the time the subscription period begins on 1st December there will be 10,000 Union Berlin members and sponsors entitled to purchase shares (at present it’s c. 8,000). The aim is that everyone entitled to subscribe who wishes to do so is able to buy at least one share and that by selling one per entitled subscriber proceeds of at least €3.6m can be generated.
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Will I have to pay €500 in one go?
No. Payment can be made in five instalments each of €100. This option can be selected on the subscription form. Working in conjunction with the Business Advisory Board, the club’s Fans and Members’ Department (FuMA) has also launched the ‘Leih!schein 500’ (Loan Note 500) promotion, in which the club’s sponsors are facilitating the purchase of shares in smaller instalments as well. Anyone wishing to take advantage of this help can contact the FuMA in confidence.
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Can I also work off the €500, like with the last stadium construction project?
Unfortunately that is not possible, as the stand is a very complex structure that for legal reasons may only be built by specialist companies.
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How much is the Stadium An der Alten Försterei worth?
The current value of the stadium is put at c. €8m. Construction of the new main stand and the fan house will increase this value significantly. At a conservative estimate, a value of around €25m can be assumed. Furthermore a number of to date unencumbered rights (e.g. naming and catering rights) rest with the company.
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Could the stadium become an object of speculation for investors?
No. No more than a maximum of 10 shares may be purchased. That also applies to any later selling on or gifting of the shares. Any transfer that would lead to a holding of more than 10 shares must be sanctioned by a general meeting.
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What competitions is the stadium licensed for?
Upon completion of the main stand, the stadium will comply with the currently applicable specifications for the competitions of the German Football League (Bundesliga and 2nd Bundesliga), the German Football Association and its regional associations (3rd League and below and the DFB Cup).
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What influence will I have?
Material rights arising from the stadium real estate, such as naming and catering rights, rest with the stadium joint stock company. The company’s general meeting will decide how these rights are exploited. As a shareholder you will have a right to vote at such meetings and can actively influence the decisions. Shareholders’ rights of participation at general meetings are governed by the joint stock company’s articles of association (here in German).
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Does my share give me a say in setting the price of tickets and/or beer?
No. Shareholders’ rights of participation at general meetings are defined in the joint stock company’s articles of association and relate to fundamental decisions. All decisions relating to the company’s everyday business are taken by the executive board.
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When will I get the share(s) that I’ve bought?
Shares will be issued as soon as they have been paid for and the increase in share capital has been recorded in the register of companies. The increase in capital will be registered once payment has been received for 25% of the subscribed for shares.
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Am I allowed to sell my share(s)?
Yes, shares can be sold. Up to a holding of a maximum of 10 shares consent is given by the executive board of the joint stock company. Any sale that would lead to a holding of more than 10 shares must be sanctioned by a company general meeting.
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Am I allowed to sell, gift or bequeath my share(s) to a non-member?
Yes, that is possible. The restriction to members and sponsors applies only to the shares’ initial issue. Subsequent transfers (sales or gifts) are not affected by this and up to a holding of a maximum of 10 shares are possible without approval from a company general meeting. Shares may be bequeathed without any restriction.
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What obligations will I have as a shareholder?
As a shareholder of the stadium joint stock company you will have the right to vote at stadium company general meetings. You will in future take decisions along with all other shareholders on any fundamental matters that directly affect the stadium and thus Union Berlin’s self-image as a club. Your share purchase brings with it a responsibility for the football culture of Union Berlin at the Stadium An der Alten Försterei.
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Will I lose my right to vote if I am no longer a Union Berlin member or sponsor?
No. All registered shareholders have the right to vote. The restriction to members and sponsors applies only to the shares’ initial issue.
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Will I get a return from my share(s) if the stadium company makes a profit?
As a matter of principle any joint stock company must aim to make a profit through its business activities. A distribution of profits to shareholders is therefore possible. Any decision to do so is taken by the general meeting based on a proposal from the executive board. In general, these shares are not appropriate if you are expecting short-term gains.
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As a shareholder will I carry any financial risk in relation to the company?
No. Your risk is limited to the sum you have invested for the share purchase. In the event that the company went into liquidation, the share(s) you had bought would be worthless. The probability of such liquidation can be rated as extremely slim.
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Can I be forced as a shareholder to put more money into the company?
No, German legislation on stocks and shares does not permit that.
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As a shareholder will I receive regular information on the company’s financial position?
Yes. All shareholders will be regularly informed about how the company is trading and its financial position.
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Will the value of the shares go up like other shares?
The price of a share is dictated by supply and demand.
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Will the shares ever be traded on the stock market?
No, there is not intention to do that.
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Can I subscribe for shares even though I am on unemployment benefit?
All Union Berlin members and sponsors have the right to acquire shares.
There are no further restrictions.
Shortcuts
- Preserving football's culturePreserving football's culture
- This is our ground!This is our ground!
- Ownership brings responsibilitiesOwnership brings responsibilities
- Tradition & modernityTradition & modernity
- Commitment requiredCommitment required
- SummarySummary
- Frequently asked questionsFrequently asked questions
