Trondheim World Championships Faces Massive Financial Crisis

The World Championships in Trondheim have become a financial black hole. The organizers are facing a demand for 134 million Norwegian kroner.

– It hurts, says Åsne Havnelid, chair of the ski World Championships, to VG.

A week ago, reports of a financial crisis emerged.

Initial figures indicated a loss of 30 million Norwegian kroner, despite organizers having budgeted for a surplus of 20 million Norwegian kroner.

– I was shocked, said ski queen Therese Johaug to Expressen when the reports began to circulate.

Now it turns out to be significantly worse.

Enormous Financial Deficit

On Tuesday evening, the organizers and the World Championships management held a crisis meeting with their creditors. They presented a deficit of nearly 50 million Norwegian kroner.

During the meeting, it was revealed that the organizers have approximately 85.3 million Norwegian kroner in receivables, but also debts estimated at around 134 million Norwegian kroner – explaining the enormous deficit.

– It hurts not to be able to deliver what we promised, says Åsne Havnelid, chair of the ski World Championships, to VG.

Negotiations about the agreements and who bears the financial responsibility will continue into next week.

Under Investigation by Financial Supervisory Authority

As if that weren't enough, the Norwegian Financial Supervisory Authority initiated a parallel investigation of the championship last week, according to NRK.

During the World Championships, all vendors at the ski stadium and food tents in central Trondheim were required to use card terminals provided by the organizers. The money from sales went directly to the World Championships organization – but to this day, several vendors have not received their money.