Sponsors to finance operation budget of Olympic games in Sochi

Sponsors will cover the majority of operation budget of the Olympic Games in Sochi in 2014, Alexander Zhukov, Russian Vice-President and President of the Russian Olympic Committee (ROC), said in Sochi on March 23, Yuga.ru reports.

Zhukov said that they will not request funds from the federal budget. The International Olympic Committee will provide additional support.

The ROC president clarified that the operation budget is the budget of the organization committee, the funds to be spent on holding the Olympic Games, excluding the investing budget related to constructing facilities.

Jean-Claude Killy, head of the Coordination Commission of the International Olympic Committee, said that the operation budget is usually fully covered by private financing. The budget provides the right for TV broadcasting, international and national sponsorship. The organization committee achieved great success in national sponsorship, he noted.