FC St. Pauli: The Governance Champion in Professional Football

St. Pauli

Almost a year ago, we described Andreas Rettig as a “governance mastermind” in professional football. The managing director of FC St. Pauli had warned against opening up the Bundesliga to investors at the time – and had put forward weighty business arguments instead of nostalgic ones. We are in line with him and are convinced that good corporate management is the key to improving the international competitiveness of German football. To put it bluntly: We need competent supervisory boards and not oligarchs worth billions. Rettig apparently takes the same view and has worked towards good governance at FC St. Pauli.

Our proposal: A modern governance code for the Bundesliga

In any case, a recent study recently presented by sports economists at the University of Leipzig in the “Zeitschrift für Corporate Governance” (Magazine for Corporate Governance) shows that the company’s corporate governance is a key factor in its success: The Kiez-Club has the highest “Governance Quality Score” of all clubs in German professional football. For their analysis the experts examined the statutes of the associations according to 123 criteria – from the “size of the association organs” up to the “executive committee control by the supervisory board”. Apart from St. Pauli there are however only few rays of hope. The authors complain that the results were particularly disappointing “for the […] Supervisory Board and Election Committee bodies”. We think The Bundesliga must dare more St. Pauli. How about a modern governance code for first and second league clubs, dear DFL?