Helsinki Arena ownership shifts to Finnish investors with Heikki Viitikko as majority owner

The ownership of Helsinki Arena, previously held by Russian oligarchs, is now in Finnish hands. The acquiring group comprises several local investors, with Heikki Viitikko as the new majority owner, holding over 50 percent of the shares. Viitikko, a well-known name in southern Savonia and a millionaire with a background in real estate, is originally from Uukuniemi.

Having lived in England for an extended period, Viitikko gained prominence in Finland following his purchase of a third of the Mikkelin Jukurit ice hockey team in 2017. This marked his first foray into the sports and entertainment sector, driven at least partially by his desire to make a positive impact on his hometown.

The sale process of Helsinki Arena took nearly two years and involved no face-to-face meetings between buyers and sellers, with lawyers handling negotiations. Viitikko’s team believes the arena can be profitable if it hosts around 140 events annually, attracting close to a million attendees.

Though the arena requires some technical upgrades, it boasts excellent logistical capabilities, such as direct truck access for efficient loading and unloading. Viitikko emphasizes that his investment is not solely about financial gain; his commitment to the project has both a strategic and sentimental aspect.

He aims to keep the arena operational with a professional team to manage events. Reflecting on his success, he stresses the importance of having goals, working diligently towards them, and not giving up, while also recognizing the role of luck and resilience in life.

Viitikko’s vision for the arena includes a significant investment plan for the next decade, allowing the venue to compete effectively with other major event centers in Finland.