Organizers said they posted a provisional surplus of $261 million on the Winter Olympics in Sochi.
The figure is $119 million higher than a previous profit figure reported in April, but is still dwarfed by the government subsidies given to the organizing committee, valued at $420 million in December.
Sochi organizing committee chief Dmitry Chernyshenko said all the profit will be "oriented toward the development of sport in Russia," with plans to provide "a significant sum" to Paralympic sport.
The organizing committee promised final results by the end of the year.
The surplus is only from the organizing committee, which had an operations budget of about $2 billion. It does not cover any construction or infrastructure costs. Russia's overall spending for the games totaled $51 billion.
See also:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.