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Russia's state-controlled retail savings bank Sberbank will sponsor the 2014 Winter
Russia's state-controlled retail savings bank Sberbank will sponsor the 2014 Winter Olympic Games in the Black Sea resort city of Sochi, a business paper reported on Wednesday.

The Sochi 2014 Organizing Committee picked Sberbank as a partner for the Olympic Games in the banking category, a government official told Vedomosti. The information was confirmed by the Tourism and Sports Ministry.

How much the deal is worth has not been revealed but it could amount to $110-130 million, Vedomosti reported.

Sberbank and the organizing committee made no comment on the information yesterday.

On February 24, Russia's state-controlled crude producer Rosneft was named a main sponsor for the Sochi Olympic and the Paralympics in the oil category. Rosneft will also be a partner for the Russian Olympic Committee and the Russian Olympic team until 2016, with a sponsorship contract worth $180 million, Vedomosti said.


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