Garden Helsinki seeks continued state support despite government withdrawal

The Garden Helsinki arena project will continue fundraising efforts despite the Finnish government’s decision to withdraw conditional state support.

The announcement follows Prime Minister Petteri Orpo’s statement on Monday that the cabinet would no longer back the project amid recent political controversy. In a press release issued on Tuesday, the project’s backers said they were disappointed but would proceed with securing financing. They also expressed hope that state funding could still be secured once the project advances further and the government establishes formal processes for such subsidies.

The city of Helsinki has not committed to immediate funding. The Ministry of Finance had previously advised Garden Helsinki to apply for municipal funding in 2025, but no application has reached the desk of Deputy Mayor Johanna Laisaari, who oversees urban environment issues.

“The next steps will likely involve the project approaching the city with updated assessments,” Laisaari said. She added that any decision would not come before autumn at the earliest and that the city remains open to modern large-scale venues, not necessarily Garden Helsinki specifically.

A preliminary agreement exists for the sale of a plot in the Taka-Töölö district to the project company, but the deal will expire by the end of 2027 unless the project meets conditions such as securing a building permit and sufficient financing. A one-year extension may be granted in cases of delays beyond the project’s control, with a final deadline set for the end of 2029.

The project faces significant financial strain. A memorandum submitted by the Ministry of Justice and Culture to the European Commission in March estimated Garden Helsinki’s funding gap at at least €156 million, with total investment needs reaching €388 million. The project currently carries €26 million in debt, €13 million of which is due next year.