The Sochi 2014 organizing committee chose Sberbank as partner in the bank category, the contract amount, according to the report, should be 110 to 130 million dollars. VTB also sought national partner status, however, it is noted, it did not submit an application, and Sberbanks decisive advantage was its role in settlements for Olympstroy and the Games organizing committee.
The Sochi 2014 Organizing Committee has chosen a partner in the “bank” category, as it reported yesterday in a report presented to participants at a meeting of the presidium of the Sports Council chaired by Vladimir Putin. Sberbank became the sponsor. The contract amount is still being clarified, but in the end it is expected to total $110-130 million.The organizing committee closed the application process in this category back on January 20. The President of the Russian Olympic Committee, Leonid Tyagachev, says that VTB and Sberbank were competing for the status of national partners of the Olympics. In favor of the latter was the fact that it serves as the settlement bank for Olympstroy and the Games organizing committee, Tyagachev adds. According to a VTB representative, the bank did not even submit an application to participate in the tender. VTB is already a sponsor of the basketball, volleyball, and gymnastics federations, as well as the Russian women’s national basketball team, he added. "We would like to become sponsors of Sochi 2014, but no member of the board of directors would have approved allocating more than $100 million to support the Games," says an employee of another federal commercial bank that declined to seek cooperation with the organizing committee.