If you are a sports fan, you may have noticed that many Finnish teams are struggling economically. In every sports field in Finland there are many economically unhealthy organizations.
The basketball Loimaa Bisons are running out of money and they were forced to let go their starting line-up. That move guaranteed the team’s economic position for the rest of the season. Aleksi Valavuori is one of the influential powers in Bisons background. Valavuori has worked before with two Finnish basketball teams and if you want to give a color to his financial achievements in those teams it’s pitch black. They both went bankrupt and now he’s about to complete his hat trick. My opinion is that the team owners should not hire nor trust Valavuori ever again. He made some achievements and created a little bit of hype around the teams but in the end he had only left smoking ruins. That’s not a healthy way to run a business or a sports team.
Then theres Espoon Blues, a Finnish hockey team that had struggled all season long. Espoon Blues had 25 players before the season started and only three of them ended the season with Blues. All players who left Blues terminated their contracts one-sidedly, because Blues couldn’t pay them and legally they were entitled to do that. Now Blues’ season has ended and organization is fighting for their future in the courtroom. That’s just a delaying fight and they are only a final gavel tap away from bankruptcy.
In these days it always pleases me to see great economic performances by Finnish teams. On 14th of March HJK announced that they are first Finnish football team to pay significant dividends to its shareholders. The Dividend will be 5 euros per share and approximately 5% of the share capital. HJK made financially a great performance, the group’s profit after taxes amounted to EUR 454 473. These numbers are also exceptional for HJK and they wanted to take into account its shareholders when they had a chance.
“- Although the athletic success was not in the way we hoped last year and in accordance with the increased investments, it is of course important to the company’s long -term point of view, that the organization has enchanced its business so that in sportingly a weak year, it was possible to make a good operating result , HJK ‘s CEO Aki Riihilahti says.”
Aki Riihilahti a former HJK-player, who played a decade as a professional abroad, has been in my opinion a great CEO to HJK. A Hard working team player and an honest guy, these characteristics determine him now on and off the pitch.
As a HJK fan I’m hoping to see many succesful years in the future, on and off the pitch.