Sochi Winter Games made $53 million profit

Thu Feb 26, 2015 5:29pm EST
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RIO DE JANEIRO (Reuters) - The 2014 Sochi Winter Olympics made an operating profit of 3.25 billion roubles ($53.15 million), officials announced on Thursday.

The International Olympic Committee said it was planning to give its share of the profits back to the Russian organizers.

"The IOC has already decided to transfer its 20 the Russian Olympic Committee," spokesperson Mark Adams told reporters.

The 2016 Summer Games will be held in Rio de Janeiro.

(Reporting by Andrew Downie, editing by Tony Jimenez)

People pose for a picture with a set of Olympics rings at the Olympic Park a day after the closing ceremony for the 2014 Sochi Winter Olympics, February 24, 2014. REUTERS/Gary Hershorn