Jari Kurr’s Jokeri Company Retains Million Pot Amid Frozen Cash Assets Due to Sanctions

Jari Kurr’s Jokeri Company Retains Million Pot Amid Frozen Cash Assets Due to Sanctions

The latest financial statement report reveals intriguing details about the financial situation of Kurri’s company. Hockey icon Jari Kurri’s ownership of the Jokerit Hockey Club Oy in the KHL came to an end in February 2022. However, the company still possesses a million-dollar reserve.

This information was confirmed in the most recent financial statement report of the Jokerit Hockey Club, submitted to the Patent and Registration Board (PRH) in January. As of the fiscal year concluding in April 2023, the company held about EUR 1.7 million in cash, with EUR 1.94 million recorded as distributable equity.

Nevertheless, the report indicates that not all of the Jokerit Hockey Club’s cash reserves can be accessed due to sanctions. Kurri’s company has slightly over 100,000 euros trapped behind these sanctions, exactly 87,450 and 27,340 euros at the current ruble exchange rate.

In the last fiscal year, the Jokerit Hockey Club distributed dividends of 80,000 euros. The Jokerit Hockey Club, which is owned by Kurri, has been inactive since Russia’s invasion of Ukraine.

The Jokerit Hockey Club is fully owned by Kurrin Jack Promotions Oy. The club ceased operations following Russia’s invasion of Ukraine in February 2022. Jokerit withdrew from the KHL, leading to significant speculation about the club’s future and potential re-entry into Finnish hockey.

Kurri sold the business operations of the Jokerit Hockey Club to Joel Harkimon for Team Jokerit Oy in August 2022, a company that later went bankrupt. A completely new company, led by Mikko Saarnin, took over the operations of the Joker’s disc, and the club returned to Finnish league hockey, or Mesti.

Kurri intends to dismantle the remnants of the KHL Jokerit, planning to merge the Jokerit Hockey Club first with Jack Promotions and then with a company named Jutland, which he also owns. Jutland is then expected to merge with the Fiorea company, another one of Kurri’s holdings.

Kurri has kept a low profile for a long time and did not respond to a request for an interview on Thursday. The financial statements of the Jokerit Hockey Club and Kurri’s KHL million pot were first reported by Iltalehti.