Sochi 2014 Reveals Strong Operating Profit
The Organising Committee of the Sochi 2014 Winter Olympic and Paralympic Games has announced an operating profit of nine billion roubles (£153 million), according to preliminary estimates, with the surplus to be invested into the development of Russian sport.
According to media reports, a further update will be provided once the committee has completed its mandate.
This comes following the £31 billion/R564.9 billion that has been estimated as the total investment in the project, however, most venues in Sochi were built from scratch, with the large-scale spending in infrastructural improvements aimed at furthering the region’s long-term development.
Dmitry Chernyshenko, President and chief executive of Sochi 2014, said of the news: ‘The Games in Sochi will continue to set records, even after their completion.’
‘Financial indicators show that these were the most successful Games compared to previous editions, and all earnings will be directed to the development of sport in Russia.’
The next task for the Sochi officials will be the official debrief on the results of an event, due be held in Pyeongchang, South Korea, the 2018 Winter Olympic and Paralympic host-city, later this month.
