Helsinki The Stadion Foundation, which manages the Olympic Stadium, is planning a surprising move to revitalize the historic building.
In the renovation that was completed four years ago and cost more than 300 million, the Olympic Stadium got versatile interior spaces. The Stadion Foundation wants to use them effectively.
The Olympic Stadium is Finland’s most important outdoor concert arena. This summer, Stadika will perform among others Bruce SpringsteenMetallica and Coldplay no less than four times.
Now the Stadion Foundation wants to bring gigs and concerts indoors as well. The plans include a world-class concert venue.
“We have great indoor spaces that can accommodate people as large as Tavastia during the winter, for example for gigs and corporate events or stand-up clubs, for example. We want to expand event activities beyond the summer season and major events,” says the manager of the Olympic Stadium Ari Kuokkanen.
For example, the restaurant space built in connection with the renovation under the east stand would be excellent as a concert venue. The tall, hall-like space named Club Stadion can accommodate 600 people. There is one of the longest, if not the longest, set of bar counters in Helsinki.
“The bar counter has a total of about 60 meters in three parts. It’s like it was made for club activities,” says Kuokkanen.
For example, the Hartwall arena, which has a 30-meter-long bar counter, serves as a point of comparison.
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“If the events rain badly, nothing can replace the money they bring.”
There is a total of 60 meters of bar counters in the hall under the east stand of the Olympic Stadium. Renovation of the facility will begin in the fall.
According to him, the plan is already well outlined.
“The dream is to start operations this year, but something has gone wrong if we don’t start operations next year.”
Another suitable place for organizing public events indoors is Restaurant Suora, located under the main grandstand, which can accommodate 800 people.
“Hopefully we can give the plans the green light. We also have to remember that the economy dictates and we can’t just do it for the joy of doing it. The profit must remain with the creators, i.e. our entire chain of partners.”
Olympic Stadium was in the eyes of severe criticism after the renovation budget was betrayed.
The original renovation budget was printed just below 200 million euros, but in the end more than 330 million euros accrued to be paid to the state and the city of Helsinki.
After practicing the use of the Stadium for a few years, the negative headlines have almost stopped. According to Kuokkanen, the Olympic Stadium is doing very well “by all measures.”
The German metal band Rammstein performed at the Olympic Stadium in May 2023.
The Olympic Stadium has been financially positive every year. It is important, because the city of Helsinki, which exercises the greatest decision-making power in the Stadium Foundation and owns the stadium, does not support operations in a normal year.
Event revenues such as concerts are the cornerstone of the economy. They cover about 40 percent of Stadika’s nine million euro budget.
Kuokkanen points out that the Olympic Stadium creates well-being for the entire capital region.
According to a study by the consulting company KPMG, the regional economic impact of the Olympic Stadium in 2022 was 194 million euros. Restaurants and hotels are full of customers when Stadika celebrates.
“If the events rain badly, nothing can replace the money they bring.”
The second most important source of income is the partners, of which there are a total of 28. These bring a seven-digit euro figure, or a million pot.
The share of the new partner OP group is significant in this. Kuokkanen does not reveal the value of the multi-year cooperation agreement.
The remaining four business areas are clearly smaller, but important. Office tenants, meeting services, sports services and tourism bring people and activities to the Olympic Stadium all year round.
“We only have 40,000 square meters of indoor space and practically two stadiums on top of each other. It would be a lack of imagination if you couldn’t come up with a productive and smart use for this,” Kuokkanen refers to, for example, the sports and multi-purpose facilities underground.
“Their use can be made more efficient than the current one. On the other hand, modern stadium concerts could not even be organized without these facilities.”
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“The unequivocal answer is that a name change has never been considered, and it probably wouldn’t even be accepted.”
One the development site can be found outside the gates of the Olympic Stadium. In the visions before the renovation, Stadika’s surroundings were painted as turning into a living room for city dwellers, which attracts people to stop and enjoy themselves. We are far from that.
Kuokkanen states that the area is badly unfinished. He wants the city to come up with a comprehensive plan for the north side of Töölönlahti.
“The queue of parking spaces stretching from the National Opera to the gates of the Olympic Stadium must be resolved.”
The fate of the projects on the north side is also important for the Olympic Stadium. Will Helsinki Garden be completed and will the Jäähalli be turned into an indoor arena as planned?
“Events in the Garden and the ballpark would also bring people to the Olympic Stadium area in winter, when it’s quieter for us. We would support each other.”
New too is happening. The Olympic Stadium got a new and prominent main sponsor when it signed a multi-year cooperation agreement with the OP group.
How will the OP group be seen at the national stadium, will the name of the Olympic Stadium change?
Kuokkanen thinks that the OP group hardly wants to mess with the name of an institution like the Olympic Stadium, and such discussions have not even taken place with previous partners.
The name is also a matter of style, Kuokkanen points out.
“The unequivocal answer is that a name change has never been considered, and it probably wouldn’t even be accepted. It is hard to imagine that the name of the Olympic Stadium would be something other than the Olympic Stadium.”