Rewrite a Million Losses Again – A New Headline

Rewrite a Million Losses Again – A New Headline

TPS, a former powerhouse in the SM League of ice hockey, is currently struggling both on and off the rink. The club recently announced that HC TPS Turku Oy is set to make a loss of approximately 2.4 million euros for the current league season, adding to the financial troubles that have been plaguing the organization for some time. Despite financial support from Supercell moguls Ilkka Paananen and Mikko Kodisoja, the club has amassed a loss of nearly 20 million euros over the past decade.

In response to these financial woes, TPS revealed last fall that it would be implementing an efficiency program aimed at balancing the club’s economy. The goal of this program is for TPS to achieve self-sufficiency by the 2024-25 season. As part of this initiative, the club has set a savings target of 2.2 million euros for the upcoming season, a significant increase from last season’s turnover of 11.7 million euros.

The proposed savings will be achieved through a variety of measures, including a one million euro cut in personnel costs. An additional 1.2 million euros is expected to be saved through reductions in marketing, match event, sales costs, and the rental and operating costs of the hall. The club also plans to trim approximately half a million euros from the league team’s player budget for the next season, which was announced at 2.8 million euros for the current season, ranking it sixth highest in the SM league.

Despite these financial challenges, TPS remains committed to its players and fans. The club stated that the composition of the team in the coming season will rely on its own rising stars, and while the ability to adjust to changing situations might not be on par with previous seasons, the focus will shift towards the development and progression of its own players.

On the rink, TPS has had a disappointing performance in the SM league this season, currently sitting in 11th place with just seven regular season games remaining. This follows a ninth place finish last season, which saw the team relegated to the “pity leagues”. However, the club has had its moments of glory, reaching the SM league finals in both 2021 and 2022 and securing silver medals on both occasions.