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A construction site in front of the Grand hotel Polyana owned by Russia's gas export...
Russia's Sochi 2014 Winter Olympics may not need help from state funds as sponsorship plans have exceeded expectations, Games chief Dmitiry Chernyshenko said on Monday.The Black Sea resort has an organising budget of some $2 billion which does not include infrastructure construction and improvement, worth several more billion.
Sponsorship revenues are already over $1.0 billion, making Sochi by far the most successful winter Games organising committee in that respect, and even look likely to surpass Beijing's $1.2 billion domestic sponsorship revenue mark for its much bigger 2008 summer Games.
"It is true we have exceeded our (sponsorship) plans but we have now established new plans," Chernyshenko told Reuters a day before the start of an International Olympic Committee (IOC) coordination commission visit to monitor progress.
"We want to run the Games without attracting public funds or government money," he said, 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.
Chernyshenko said more sponsorship deals were expected.
"There are some more contracts in the pipeline and we will have news on that soon. The licensing programme has started and we recently signed the contract for the post, stamps and coins."
Chernyshenko, a Sochi native who also led the successful bid, said construction was not a concern, despite the need to built almost all venues from scratch.
WHITE ELEPHANTS
"From the construction perspective the coordination commission will visit the Olympic park and see the growing number of venues," he said.
Construction in Sochi, which has been named Europe's biggest building site, has been a matter of concern for some time with the IOC urging organisers to stick to the timetable.
Chernyshenko said all venues would be completed by 2013 as planned and several, including the ice hockey stadium, were ahead of schedule.
International Ski Federation (FIS) chief Gian Franco Kasper warned last week of possible "white elephants", saying Sochi had to make sure there was a use for all the venues after the Games.
Chernyshenko said Sochi was bidding to become a regional winter sports hub, investing far more than needed to just host the Olympics.
The biggest challenge for organisers lay in having the right personnel in place for such a big event, he said.
"The major challenge is the people. We have to understand we are creating a new city with extended infrastructure and the proper workforce to maintain and operate. It is not only the competitions but also the hotels and so on."
Organisers were ready to incorporate any new disciplines the IOC might introduce in Sochi.
Women's ski jumping has long been battling for inclusion in the Games programme. It was rejected by the IOC for the Vancouver 2010 Games but will be reconsidered at the body's meeting in Acapulco from Oct. 24.
"It is up to the IOC to decide on the sports programme. But generally we are fully supporting the idea of welcoming any new (discipline) recognised by the international federations," Chernyshenko said.
(Editing by Clare Fallon; To query or comment on this story: sportsfeedback@thomsonreuters.com)
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