Before the 1981–82 season, a number of key players' contracts expired and they decided to continue their careers elsewhere. To illustrate, the team lost key and core players such as Jalonen, Suoraniemi, Leinonen and Kai Suikkanen, as well as cult player Reijo Ruotsalainen. With a weakened roster, Kärpät had to settle for fifth place. and the following year, they were nearly relegated. During the era of Pentti Matikainen as a head coach, Kärpät remained a championship contender and won bronze medals in three consecutive years (1983–84, 1984–85 and 1985–86). In Matikainen's last season as a coach, in 1986–87, Kärpät somewhat surprisingly won the regular season, but lost to Tappara in the finals. Matikainen was replaced by Kari Mäkinen in 1987–88, but the team failed to make the play-offs. Esko Nokelainen was named as the new coach, but to little avail. In the following season, in 1988–89, Kärpät reached a nadir and Nokelainen was sacked mid-season. Eventually, Kärpät were relegated from the SM-liiga as they lost to Jokerit in the relegation league.
