The Helsinki club is teetering on the brink of bankruptcy again.
HIFK’s ranks have no reason to be happy at the moment. Photo from 2016. Jussi Eskola
The football club HIFK is again in financial problems.
The Helsinki club, which has teetered on the brink of bankruptcy many times, is once again trying to save its operations with the financial help of the fans.
HIFK has convened an extraordinary general meeting, where the intention is to decide on the additional share issue. The purpose is to collect 300,000 euros so that the club can play until the end of this season.
Old debts are heavy
CEO of HIFK Fotball Perttu Hillman confirms Iltalehte’s additional share issue and its goal.
Hillman, who started in his position last November, says that the main reason for the problems is the club’s poor financial management in previous years. The money available from the additional share issue will primarily be used to pay debts burdening the club’s finances.
– If someone asks if money has been spent recklessly this season, I can answer that absolutely not. I think our activities this year have been effective. For example, our player budget is very modest, and we have kept to it, Hillman tells Iltalehte.
The managing director admits that the club’s revenue so far has been disappointing.
– As far as partners are concerned, the situation is challenging. There could have been more of them. In addition, the audience has been a little less than we had hoped for at the matches, Hillman says.
An extra money hole
In addition to the already gigantic debts, the club has one big and huge money hole falling on its shoulders.
HIFK’s finances are also burdened by the defeat suffered in court against the club’s former coach Farizio Piccareta against. Fifa ordered the Helsinki club to pay the Italian almost 90,000 euros in compensation for breach of contract.
HIFK intends to appeal the decision and do everything possible to have the compensation amount either canceled or at least reduced.
Hillman hopes that the additional share issue will achieve its goal “as quickly as possible”. If the goal of an additional 300,000 euros is realized, the CEO describes the situation as really good.
– Of course, I can’t promise anything in the long term, but at least for this season, the situation would be good.
“We owe that to the fans”
HIFK has relied on the financial help of its fans before. In social media, the club’s latest share issue was not received with cheers.
Hillman understands the pain of supporters. He hopes the supporters will love the club.
– I want to express my thanks for their encouragement and participation. Together we will get through this. Without supporters we are meaningless
Hillman says that his and other HIFK’s new management figures’ main goal is to secure the club’s future and return it to the Veikkausliiga.
– We owe that to our supporters.
HIFK, who were relegated from the Veikkausliiga last season, are currently in fifth place in Ykkö. The team has four wins and five draws out of 11 matches.