Sochi 2014 Games get high marks for marketing programme 17/06/2009 |
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The International Olympic Committee (IOC) praised organisers of the 2014 Sochi Winter Olympics on Tuesday for a domestic marketing programme that is expected to raise more than $1 billion.
Sochi has already generated $550 million in domestic sponsorship deals with another $300 million expected from three separate contracts in the coming weeks.
"We are breaking new records in obtaining marketing partners," Sochi Games chief Dmitry Chernyshenko told reporters after presenting a progress report to the IOC.
"We are close to finalising three more categories; automotive, aircraft and apparel, The target is $1 billion," he added, with those three deals worth at least $100 million each.
IOC marketing chief Gerhard Heiberg was impressed by the success of Sochi's marketing plan.
"I congratulated them in the meeting," he said. "They are doing a very good job. I was sceptical in the beginning but now I can see what they are doing and I can only congratulate them."
Heiberg said the IOC's own four-year marketing programme for 2010-2012 involving top sponsors was also on track to hit the $1 billion mark despite the global financial downturn.
"In the IOC we are still talking to car companies (as a top sponsor). Some have left and some are still in talks. We are not in a hurry."
The IOC, which has nine top sponsors after several left following last year's Beijing Games, said it is planning to add at least one more before the 2012 London Games.
Revenues for the 2006-2008 two-Games package were just over $850 million.
"I have not given that up (reaching $1 billion)," Heiberg said. "We are having talks in different categories. But we are taking our time. We are not in a hurry"
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