AIK Ltd while waiting for the rubels

The saga of AIK goes on. The team yesterday lost at home against promotion hopefuls Malmö at home. Not too surprising, but AIK fans are really letting the team down. Just over 2.500 spectators came to this important game between two of the top teams in the division. AIK has budgeted for 4.000 attending per game, and at the moment the average is a paltry 2.077. For a team with economical problems this is obviously disastrous. Some could even say it's slightly ironic for a team who claims to be the most supported team in Sweden under the slogan 'We're Everywhere'. Everywhere apart from in Johanneshov that is. The club lost SEK 8.000.000 last season and had hoped to break even this season - with falling attendances and a tough sponsoring market, this has now been adjusted to a prediction of of about SEK -8.000.000 again.

The Weekly Echo

Before the game, an announcement was made regarding the future of the club: The hockey section is going public in order to get the funds to meet the rules of not being in debt for two years running. The club is aiming to raise SEK 9.350.000 through issuing and selling shares. The offer is for SEK 12.50 per share for a minimum of 200 shares. This is a  cost of SEK 2.500 per post. Even though this is a substantial sum for most people, it should usually be manageable if you are a big fan. However, people only have 10 days to sign up, and adding to that, the deadline is just before Christmas. If money ever is tight, it is during the jolly season. Or are they hoping for this to be a stocking filler??? The timing could obviously have been better, and the notice period could also have been made a little bit longer. It seems as if they are trying to make things difficult for themselves...

'Are you selling those pesky shares?'

The club, in its statement, reiterates its ambition to join the KHL and somewhat strangely adds that the efforts to join the Swedish top league is not conflicting with their ambition to join the KHL. Ehhh...??? At the same time, Viacheslav Fetisov has been is Stockholm on a crash visit to check out the credentials of AIK. He says KHL would be proud to be welcoming AIK with its long tradition and many (sic!) fans. He also indicates KHL would help AIK sort out its economic issues if needed. That'd be a nice russian bear-hug if anything.

Its obvious AIK is stuck in between the proverbial rock and hard place. There really seem to be only three options for the club:

• Advance to the Swedish top league at the end of this season. Not looking likely the way things are looking on the ice, but not impossible. The extra SEK 28.000.000 in TV money would certainly not hurt.
• Join the KHL. I don't think that is the future, but it certainly beats folding. It is a lifeline, and KHL seem just as desperate as AIK to make this work. I do however think this is likely to be stopped by the Swedish Hockey Association.
  
• Fold and start again from the bottom under a new name. Not an ideal situation, but the club can not keep going as is at the moment.