On the Scene: Brand Relaunch for Sochi 2014; Bosco Sport is Seventh Domestic Sponsor

(ATR) Leaders of the Sochi 2014 Winter Olympic organizing committee say they are preparing to launch a new logo and branding.

"We have to change our corporate identity by the end of the year, very soon we will announce the date of the relaunch of our brand," Dmitry Chernyshenko, president and CEO of Sochi 2014 told reporters in a round table briefing in Copenhagen Wednesday.

"We have already prepared this and are waiting for official approval of the IOC. Right after that we will start the launch of the new brand of Sochi, as well as the international communications campaign."

Chernyshenko spoke to journalists before updating the IOC Session on the progress of the 2014 Olympic project. Dmitry Kozak, Russia's deputy prime minister with oversight of Olympic preparations, also addressed the session. He restated the government's support for the Games, emphasizing that it was a national priority project.

Despite the $6.6 billion construction effort with many venues being built from scratch, Chernyshenko gave assurances that Sochi was on time and on budget. Building work continues apace on competition and infrastructure venues in the coastal and mountain clusters, he said.

"We never say that money is not an issue, we are very accurate and precise in the budgeting. but it is sound in terms of the budget for the Games and we hope that it continues like that," Chernyshenko said. "Construction is well on schedule."

He said Jean-Claude Killy, head of the IOC coordination commission for Sochi, and Olympic Games executive director Gilbert Felli had visited the Black Sea resort and seen for themselves "that of the people who would have to relocate, a majority of them are happy with new housing facilities."

Giving his own assessment of the 2014 project today, Killy told IOC members that Russian Olympic organizers could not afford any delays and plenty of hurdles lay ahead of them to complete venues and infrastructure. Test events are scheduled to be held two years before the Games.

"The road to the Games in Sochi is still long and is paved with many challenges. The project is moving forward at a remarkable pace," Killy said.

Incomments on Sochi's marketing program, Chernyshenko said targets were being met. Bosco Sport, the Russian apparel company, is expected to be officially confirmed as the seventh top tier domestic sponsor in a deal worth an estimated $100 million. It would bring the sponsorship revenue generated in the past year to $850 million.

The deal means Sochi has already eclipsed the Vancouver 2010 Games domestic sponsorship fund by $90 million.

Chernyshenko did not directly confirm the sponsorship to reporters, saying only that apparel,metal, gas and insurance were the vacant tier one categories to be filled.

He said that the tier two sponsorship drive would begin after the Vancouver Olympics; by the end of 2010 Chernyshenko hopes to have half of them in place.

Commenting on the observer program for the Vancouver Olympics, the Sochi 2014 chief said 107 officials from his organizing committee would be at the Games. Another 90 from different partner agencies involved in delivering

Russia's first Winter Games will also be there.

"This is a huge program, but we are considering that we are building our infrastructure mostly from scratch. This is a very challenging thing in terms of establishing the proper workforce, venue preparation, venue management and sport. That's why it's crucial to train and educate our key functional leaders," he said.

With reporting from Karen Rosen and Mark Bisson .