TPS has launched a two-season streamlining program, the goal of which is to bring the organization and costs into line with income.
TPS, which plays in the Ice Hockey Championship League, published its financial statements for the previous season on Friday. HC TPS Turku Oy made a loss of 2.9 million euros. The group’s net sales increased by 900,000 euros from the previous year and totaled 11.7 million.
CEO of TPS Aki Holman according to, there is no single reason for the giant loss.
– We have the expenses of a large club and the income of a medium-sized club. The whole thing now needs to be brought under control, Holma tells Urheilu.
The Turku club missed the first round of the playoffs last season. It affected the club’s income.
– We didn’t have such a number of events, which would also have helped on the income side. Arena operating costs are increasing all the time. They have grown unbearably big, but it would not have been resolved in the playoffs, no matter how much was played.
Do the main owners still have enough money and patience?
TPS’ operations have been loss-making for years. During the last nine fiscal years, the club has made a total of more than 15 million euros in losses.
Now TPS has launched a two-season streamlining program, the goal of which is to bring the organization and costs into line with income. Holma says that a significant loss will still be made from the coming season. In the following season, the goal is a zero result.
– During these two years, we have the opportunity to improve operations, negotiate contracts and save costs. The entire organizational structure, contracts, everything that is possible in this time span, will be reviewed.
According to Holma, the club is not about to collapse its operations, and it still has the potential to succeed if it makes the enhancement program work.
The main owners of TPS have been those who got rich with Supercell Ilkka Paananen and Mikko Kodisojawho have invested large sums in the company.
Do the principal owners still have enough money and patience with the club?
– That’s enough for these two seasons, Holma says.
– The financial support of the principal owners is still sufficient to carry out the planned enhancement program, after which the club must operate on its own. Chairman of the board of HC TPS Turku Oy Kai Koskinen said in the club’s press release.
The ice hockey championship league starts on September 12. follows the ice hockey series closely in the broadcasts of the Ice Hockey Tour in Puhee and Areena.