SOCHI 2014: Formula One race will benefit Winter Olympics, says Chernyshenko

By Gerard Meagher, Sportsbeat

SOCHI 2014 president Dmitry Chernyshenko believes plans to host the first ever Russian Formula One Grand Prix just months after the Games in the Black Sea Resort will help not hinder the Winter Olympics.

THINKING BIG: Sochi 2014 president Dmitry Chernyshenko is convinced hosting the Winter Olympics and Russia's first ever Formula One Grand Prix is a good idea (Getty Images)

The International Olympic Committee has raised concerns that hosting two high-profile events in such close proximity and with the economic downturn in mind could stretch resources.

After all, Sochi organisers are building all venues from scratch and the IOC felt compelled to write to the Russian Grand Prix seeking assurances while they have also insisted they have the power to postpone the race until 2015 should they see fit.

But Chernyshenko believes hosting the Grand Prix in Sochi on a regular basis will ensure there will be no white elephants in the Black Sea resort - a frequent post-Games problem for Olympics host cities withas Athens perhaps the most glaring example of late.

"Hosting the Formula One race in Sochi is a great achievement and will be for the commercial property business in the Olympic Park," said Chernyshenko.

"It's an excellent idea to organise the race just after the Games. It will give Sochi another level of awareness after the Games.

"This will fulfil the Olympic Park with a regular sporting event and it will bring more attention to Sochi and more events to Sochi.

"It will mean that the Olympic Park is consistently put to use and it will mean there are no white elephants."

And with Russia also gearing up to host the 2013 World Athletics Championships in Moscow and as well as the 2018 FIFA World Cup, Chernyshenko is convinced hosting as many major sporting events as possible is driving his country's economic growth.

"We decided that sport can be a great catalyst," he added. "It's for the improvement of the infrastructure of our country.

"And it can also speed up the process and hosting Sochi 2014 has the potential to show that this strategy is successful.

"Despite the economic crisis we managed to secure our private investments which are a record high at $1.1bn dollars and hopefully there will be more to come.

"I think that ours is a blueprint that should be followed and I hope it will be followed for the World Cup."