Live Nation has signed a 20-year long-term lease to operate the Helsinki Arena which is due to reopen this spring.
The agreement is with Trevian Asset Management, which recently acquired the arena.
Under the long-term lease and co-operation agreement, Live Nation will manage all event operations at the venue, while Trevian will remain responsible for the arena’s development and initial investments.
The Helsinki Halli is a large multifunctional indoor arena located in Helsinki, Finland. It opened in April 1997. The arena is convertible for various events. The total seated capacity during ice hockey games is 13,349 and as an amphitheater it is significantly reduced to between 3,000 and 5,000.
The reopening of the Helsinki Arena is expected to significantly enhance the City’s cultural vibrancy and economic growth providing a premier venue for sports, entertainment and events.
The Helsinki Arena which had remained closed for nearly three years is set to reopen as early as April.
The venue has been closed since Russia invaded Ukraine in February 2022 when its Russian oligarch owners were subjected to sanctions from the European Union (EU) and the United States which meant they were boycotted by the entertainment industry and banks, while insurance companies refused to provide essential services.
The agreement transfers the arena’s booking calendar management, daily operations, commercial activities and maintenance to Live Nation. Trevian will continue to lead the arena’s development and investment plans.
The 20-year long-term lease establishes a solid financial foundation for the arena’s development, enhancing its long-term value.
Reima Södervall, CEO of Trevian Asset Management, said, “We are excited to announce Live Nation as the operator of this iconic venue. This agreement is a key part of Trevian’s strategy to enhance the property’s long-term value, and our collaboration with Live Nation is essential to realizing that vision for Helsinki Arena.
“We have also created comprehensive business and investment plans to ensure the arena’s sustainable value development.”
Live Nation will oversee a wide range of events, including performances by international superstars, top Finnish artists, sports events and more.
Tom Lynch, Live Nation president venues EMEA said, “There has been a gap in the live music scene in Finland since Helsinki Halli closed, and we’re proud to play a part in bringing the arena back to life. We can’t wait to get artists back on its stage, and fans back through the doors again.”
Helsinki Arena will serve as a key venue in Finland for national and international events. A key criterion in selecting Live Nation as the operator was to ensure the arena offers diverse experiences for a wide audience.
Kim Särs, Head of investment management at Trevian Asset Management, said, “We are thrilled to reopen the arena and bring world-class entertainment back to Helsinki in partnership with Live Nation.
“Our vision is to blend the energy of Rock ‘n’ Roll with sustainability, transforming the arena into a premier venue and a model of energy efficiency through strategic investments.”
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