Finnish real estate company says deal for sports and entertainment venue will restore it to its former glory

Helsinki’s main sports and entertainment arena is expected to reopen in the spring after getting caught in a Russian sanctions drama that left it disused, without power and starting to smell.

Helsinki arena, also known as Helsinki Ice Hall, has been closed since Russia invaded Ukraine in February 2022, when its Russian oligarch owners were subjected to sanctions from the EU and US, which meant they were boycotted by the entertainment industry, and banks and insurance companies refused to provide essential services. The last events to be held at the 14,000-capacity venue were an ice hockey game and the televised Finnish sport gala in January 2022.