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Sochi Olympics left £153m surplus

The Winter Olympics in Sochi left its Russian organisers with a provisional surplus of 261 million US dollars (£153 million), it said.

The figure is 119 million dollars (£70 million) higher than a previous profit figure reported in April, but is still dwarfed by the government subsidies given to the organising committee, valued at 420 million dollars (£246 million) in December.

Sochi organizing committee chief Dmitry Chernyshenko said all the profit will be "oriented towards the development of sport in Russia", with plans to provide "a significant sum" to Paralympic sport.

The organizing committee promised final results by the end of the year.

The surplus is only from the organising committee, which had an operations budget of about two billion dollars (£1.1 billion).

It does not cover any construction or infrastructure costs. Russia's overall spending for the games totalled 51 billion dollars (£30 billion).


From Belfast Telegraph