Dmitry Chernyshenko, President and CEO of Sochi 2014, updated the International Olympic Committee (IOC) Wednesday in Copenhagen on organizing committee’s progress.
Deputy Prime Minister of Russia Dmitry Kozak highlighted in his presentation to the IOC that the Russian Government continues its active support that secured Sochi 2014 as a national priority project, ensuring that the Sochi 2014 Games will be delivered in line with all commitments made during and after the bid stage.
Two domestic sponsors will be joining Sochi 2014 by the end of the year, boosting the organizers marketing revenues closer to the $1 billion mark, said Chernyshenko. Up to four more top domestic sponsors could be added while Tier Two sponsors were also on the list, reports Reuters.
Chernyshenko said construction was on track with competition venues to be completed by 2012 to allow for test events prior to the Games.
He said, “we are less dependent on economic downturn. Even if private investors will be suffering a shortage of money to deliver the projects, the government will support this and provide dedicated credit”.
Chernyshenko said funding from the government has been postponed until 2012 due to the increased revenues from the marketing campaign, reports Reuters.
