Organization 2014

Bid and preparations Main article: 2014 Winter Olympics bids The city was elected on 4 July 2007, during the 119th International Olympic Committee (IOC) Session in Guatemala City, Guatemala.[4] This will be the first time that the Russian Federation will host the Winter Olympics; the Soviet Union hosted the 1980 Summer Games in Moscow. 2014 Winter Olympics bidding results[5] City NOC Name Round 1 Round 2 Sochi Russia 34 51 Pyeongchang South Korea 36 47 Salzburg Austria 25 [edit]Financials Funds approved from 2006 until 2014 Year Billions of rubles[6] 2006 4.9 2007 15.9 2008 31.6 2009 27.3 2010 22.2 2011 27.1 2012 26.3 2013 22.1 2014 8.4 According to Sochi 2014 Olympic and Paralympic Organizing Committee President and CEO Dmitry Chernyshenko, the successful partnership and commercial programs will allow the use of funds generated by Sochi 2014 for the 20092010 development period, postponing the need for the state funds guaranteed by the Russian Government. He confirmed that the Organizing Committee has successfully generated more than $500 million through the marketing program in the first five months of 2009.[7] Russia is providing nearly 327 billion rubles (approximately US$10.85 billion} for the total development, expansion and hosting of the Games.[citation needed] 192.4 billion rubles are coming from the federal budget and 7.1 billion rubles from the Krasnodar Krai budget and from the Sochi budget. The organisers expect to have a surplus of US$300 million once the games are over.[8] Financing from non-budget sources (including private investor funds) is distributed as follows:[9] Tourist infrastructure $2.6 billion Olympic venues $500 million Transport infr structure $270 million Power supply infrastructure $100 million [edit]Venues With an average February temperature of 8.3 C (42.8 F) and having a humid subtropical climate, Sochi will be the warmest city to have ever hosted a Winter Olympic Games.[10] [edit]Sochi Olympic Park (Coastal Cluster) Main article: Venues of the 2014 Winter Olympics This sketch shows the Olympic Park concept with all venues gathered around the Medals Plaza The Sochi Olympic Park will be built by the Black Sea coast in the Imeretin Valley.[11][12] All the venues are new. The venues will be clustered around a central water basin on which the Medals Plaza will be built. This will provide a great compactness of the concept with the Olympic Stadium and all indoor venues of the Olympics gathered within walking distance. Bolshoy Ice Dome ice hockey (final), 12,000 spectators Shayba Arena ice hockey, 7,000 spectators Adler Arena Skating Center speed skating, 8,000 spectators Iceberg Skating Palace figure skating, short track speed skating, 12,000 spectators Ice Cube Curling Center curling, 3,000 spectators Fisht Olympic Stadium ceremonies (opening/ closing) 40,000 spectators[13] Main Olympic village International broadcasting centre and main press-room[citation needed] Formula One pit lane After the Olympics, a Formula One street circuit is planned for the site. The deal to hold the Russian Grand Prix was signed on 14 October 2010, and runs from 2014 to 2020.[14] The first race will take place after the Closing Ceremony of the Games, but the IOC have publicly announced that the race will be delayed until 2015 if construction of the circuit interferes with preparations for the 2014 Olympics.