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PricewaterhouseCoopers PwC Grabs Official Spot In Sochi 2014 Olympic and Paralympic Games
April 1, 2011
2014 is still three years away, but it appears that the jostling has already begun. PricewaterhouseCoopers PwC Russia has grabbed the prestigious spot of a Partner of the 2014 Sochi XXII Olympic Winter Games and Paralympic Winter Games. Another honorable mention – PwC is the Official Professional Services Provider to the Games. On a curious note, there are 1072 Days to go till the games begin on 7-16 March 2014.
Yes, PwC seems to have beaten all other Big Four firms to be accorded this singular distinction.
So, where in the world is Sochi, you may well ask, as did millions when the 2014 games were awarded to this obscure Russian city.
Research shows that Sochi (Russian: Сочи, pronounced [ˈsotɕɪ]) is a city in Krasnodar Krai, Russia, situated just north of Russia’s border with the de facto independent republic of Abkhazia, on the Black Sea coast. Sochi is the largest Russian resort city. It sprawls along the shores of the Black Sea and against the background of the snow-capped peaks of the Caucasus Mountains. At 145 km (90 mi), Greater Sochi claims to be the longest city in Europe. As of the 2002 Census, it had a population of 328,809,down from 336,514 recorded in the 1989 Census. In 2006, the population was estimated to be 395,012 The city has been selected to be the host of the XXII Olympic Winter Games and XI Paralympic Winter Games in 2014, as well as the Russian Formula 1 Grand Prix from 2014 until at least 2020. It is also one of the host cities for the 2018 FIFA World Cup.
So chi, so much for Sochi, let’s get back to PwC.
As we had guessed somewhat, there is (always) moolah involved, in this case Roubles.
In this exclusive role, PwC works with the Sochi 2014 Organizing Committee on over 70 projects in the areas of planning, preparation and staging of the Games, taxation, human resources, sustainability, marketing, financial planning and budgeting, among others.
That’s a lot of consulting dollars coming into the firm, we may surmise.
Robert Gruman, Partner and Advisory Leader at PwC Russia, said, “…In working with the Organizing Committee, PwC has the chance not only to provide strategic advice, but also to offer practical solutions for a range of management, sustainability and planning challenges. We are helping the Sochi 2014 Organizing Committee to pioneer a new approach to preparing the Games, implementing a project-oriented organization. We are forming a unique model for managing large-scale national projects, which can be adapted to other events of a similar scale”
And wait, money has already changed hands – ‘As partners, PwC and the Sochi 2014 Organizing Committee have already carried out successful projects in the areas of governance, operational and tactical planning, and the effective management of the Organizing Committee’s activities. PwC assisted the Organizing Committee in setting up its budgeting and reporting processes, and carried out a comprehensive analysis of the Organizing Committee’s personnel and resource planning needs.’
And we can only guess that millions (of roubles or dollars) will be benefiting PwC partners, perhaps much to the dismay of the other Big Four