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Russian could have to shell out $12 billion to have its southern resort city of Sochi host the 2014 Winter Olympics
Russian could have to shell out $12 billion to have its southern resort city of Sochi host the 2014 Winter Olympics, the city's mayor said Thursday. "Now, the [Russian] economic ministry is estimating hosting the Olympics at 328 billion rubles (about $12 billion)," Viktor Kolodyazhny told a news conference. Kolodyazhny said the cost turn out to be some 20% less once the games' program is finalized. The mayor said the city's bid was good enough to make it into the top three candidates to be announced in June this year when the bidding cities are short-listed from the current seven. Six other European and Asian cities are bidding for the XXII Olympic Winter Games, including Almaty, Kazakhstan; Borjomi, Georgia; Jaca, Spain; Pyeong Chang, South Korea; Salzburg, Austria; and Sofia, Bulgaria. The International Olympic Committee (IOC) is set to name the winning bid in July 2007 in Guatemala City
Print Russian could have to shell out $12 billion to have its southern resort city of Sochi host the 2014 Winter Olympics Bookmark Russian could have to shell out $12 billion to have its southern resort city of Sochi host the 2014 Winter Olympics

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