“For me, acquiring the Hartwall Arena and shares in a Finnish hockey club pleases me both as a businessman and as a supporter of the game. The purchase of a major and modern sporting arena should be a sound investment for Volga Group, while the deal will also play a big role in the development of the the Kontinental Hockey League,” said Gennady Timchenko. “Entry into the KHL will be a new and serious challenge for the club and will raise interest in hockey in Finland. In the KHL, Jokerit will play against the strongest teams in Europe on a regular basis.”

Roman Rotenberg, son of Boris, is to take charge of Hartwall Arena, and he had this to say about the deal: “The acquisition of the Hartwall Arena is a huge step in accelerating our development as both a hockey business and an entertainment provider in the region. At the same time, it forms part of a grand strategy for optimizing the commercial aspects of the club and increasing its income. The experience we will gain of running the arena can be of benefit to KHL clubs who can adopt Jokerit’s modern management structure.”

Jokerit is one of Europe’s most successful hockey clubs. Founded in 1967, “The Jokers” are six-time champions of Finland, six-time silver medalists, and two-time bronze medalists. Jokerit also won the IIHF Continental Cup in 2003 and the European Cup in 1995 and 1996.

The Hartwall Arena in Helsinki was opened in 1997 and is the largest ice hockey stadium in Finland, boasting a capacity of 13,500. In 2012 and 2013 the venue hosted the IIHF World Championships.

Update: IIHF.com's Risto Pakarinen has more on the situation.