IL: The league club received nearly eight million in support
TPS received nearly eight million euros in support during the June share issue. Iltalehti reports that Supercell’s Ilkka Paananen and Mikko Kodisoja were almost entirely responsible for the amount: each subscribed for shares worth just over 3.9 million euros.
However, the entire amount did not come into the Turku club’s coffers as new cash. TPS’s CEO Aki Holma states that about six million euros were accounted for by forgiving old debts.
– The capitalization was about two million euros, Holma tells Iltalehti.
The share issue strengthened the company’s equity and improved liquidity. Other owners participated with a total of just over 89,000 euros.
TPS’s combined operating loss over the past ten seasons exceeds 18 million euros. The club’s goal remains to balance income and expenses, but operations depend on the support of Paananen and Kodisoja.
The duo also supported TPS in 2022 with a total of 5.1 million euros in new cash and debt forgiveness.
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- IL: The league club received nearly eight million in support