Sochi exceeding sponsorship targets 12/10/2010 |
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Sochi 2014 chief Dmitry Chernyshenko has revealed that the Winter Games may not need help from state funds as sponsorship targets have been exceeded.
The Black Sea resort has an organising budget of $2bn which does not include infrastructure construction and improvement, worth several more billion.
Sponsorship revenues are already over $1bn, making Sochi by far the most successful Winter Olympics organising committee in that respect, and even look likely to surpass Beijing's $1.2bn domestic sponsorship revenue mark for the much bigger 2008 Summer Games.
"It is true we have exceeded our [sponsorship] plans but we have now established new plans," Chernyshenko told Reuters ahead of an International Olympic Committee co-ordination commission visit to monitor progress.
"We want to run the Games without attracting public funds or government money," he added, days after organisers signed up Russian insurance company OSAO Ingosstrakh as their latest partner.
Sochi will also have revenues from tickets, the licensing plan and broadcasting rights, and Chernyshenko said that more sponsorship deals were expected.
"There are some more contracts in the pipeline and we will have news on that soon,” he continued. “The licensing programme has started and we recently signed the contract for the post, stamps and coins."
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