Financial Winds in Favor of the Finnish Ski Association
The Finnish Ski Federation has reason to celebrate, having recorded a positive financial result for the last fiscal year. The outlook remains encouraging, largely due to a significant cooperation agreement forged with the Åland-based gambling firm, Paf.
A Partnership with Potential
This new agreement, which extends until 2030, positions Paf as the main cooperation partner for the Ski Association. According to information obtained by Iltalehti, the annual value of this contract is estimated to be quite substantial for Finnish sports—ranging between €700,000 and €1 million annually.
The partnership is expected to come into play when established reforms to the gambling legislation are enacted, likely at the start of 2027. The overall contract value is expected to reach several million euros, suggesting considerable financial backing for the Ski Federation during the term.
Chairwoman of the Ski Association, Sirpa Korkatti, appears guarded but optimistic about the significance of the agreement. “I can’t comment on the agreement’s specifics,” she stated, “but it’s clear that its importance cannot be overstated.”
Coverage and Visibility
This partnership goes beyond mere financial support; it covers the main cooperation for the national teams in cross-country skiing, combined events, and ski jumping, along with under-23 and under-20 cross-country teams. Additionally, Paf will be recognized as the official partner for major World Cup events in Ruka and Salpausselä, along with the Finnish Cup in cross-country skiing.
With the agreement set to roll out in 2027, Paf’s branding is expected to become visible on athletic gear, promising enhanced exposure for both the Ski Federation and the gambling company. “Visibility is a crucial aspect of our agreement, though we must await further legislative clarity,” Korkatti explained.
Concerns linger among athletes about how gambling industry branding will manifest in their attire, adding further layers to this evolving partnership.
Paf’s Strategic Moves
The new gambling legislation set to take effect will end Veikkaus’ exclusive rights in certain betting and gaming sectors by the end of 2026. This opens the market for competition, enabling companies like Paf to apply for licenses as early as 2026, with operations potentially commencing in 2027.
Paf’s financial standing appears robust, with a reported turnover of €183 million last fiscal year and profits around €54 million. The cooperation agreement ensures that Paf will enjoy visibility through the Ski Federation athletes and teams, especially during major televised events.
When asked about the possibilities of introducing ski-themed casino games, Korkatti declined to comment, highlighting that many discussions surrounding future gambling offerings remain unsettled.
A Hybrid Future for Athletes
Interestingly, athletes may have the option to establish personal sponsorship contracts with other industry players, creating a potential “hybrid model.” This opens avenues for athletes to partner with other companies like Unibet or Veikkaus, provided regulatory conditions do not change before 2027.
“The current athlete contract allows for individual agreements, so a hybrid model could be very viable,” Korkatti confirmed.
As Paf collaborates with notable personalities, such as former Formula 1 champion Kimi Räikkönen, they await the necessary licensing for their operations once Finland adopts a competitive, open model for gambling.
A Brightening Horizon
After years of financial challenges, the Ski Association has recently turned a corner, recording a surplus of €92,000 for the fiscal year 2024–2025. This was officially affirmed during the federal council meeting on November 19.
For context, this positive outcome follows lost earnings from the cancellation of the second round of the Ruka World Cup men’s hill race, among other setbacks. “Encouraging winds are blowing our way, and we hope for continued progress,” Korkatti reflects. However, she cautions against complacency, emphasizing the ongoing need for diligent efforts toward a bright future.
As the Ski Federation moves forward, the fusion of sports and sponsorship will shape not only its financial landscape but also the broader cultural fabric of Finnish snow sports.