Olympics-Sochi 2014 Games expect two top sponsor deals soon

COPENHAGEN Oct 7 (Reuters) - Two top domestic sponsors will join Russia's Sochi 2014 winter Games by the end of the year, boosting the organisers' marketing revenues closer to the $1 billion mark, Games chief Dmitry Chernyshenko said on Wednesday.

Chernyshenko, in the Danish capital to present a progress report to the International Olympic Committee, said up to four more top domestic sponsors could be added while Tier Two sponsors were also on the list.

The Games chief said the apparel, metal, gas and insurance slots were still open, with Sochi having raked in $750 million already, more than double its projected domestic sponsorship revenues in the bid file.

"I expect hopefully a couple of new partners (by the end of the year)," he told reporters. "This shows we have efficiently been running our campaign."

Sochi has already signed up several of Russia's largest companies, including state-run oil giant Rosneft and Sberbank, the country's biggest bank, as well as airline Aeroflot and carmaker Volkswagen.

Money from the private sector should come in handy as the Russian government announced earlier this year it was slashing its state budget for the 2014 Games by more than $600 million due to the economic crisis.

Chernyshenko said construction was on track with competition venues to be completed by 2012 to allow for test events prior to the Games.

"We are less dependent on economic downturn. Even if private investors will be suffering a shortage of money to deliver the projects, the government will support this and provide dedicated credit," he said.

But funding from the government has been postponed until 2012 due to the increased revenues from the marketing campaign, Chernyshenko said.

"Sochi organising committee is in good shape. This is the number one project in the country," he added.

(Editing by Ossian Shine. To query or comment on this story email sportsfeedback@thomsonreuters.com)