German carmaker Volkswagen has joined a list of Tier One sponsors for the 2014 Sochi Winter Olympics after signing a partnership agreement with the host city on Friday.
This is a major agreement for Sochi 2014 in an important category. Volkswagen is one of the world's best known companies, with a strong presence in Russia, Sochi 2014 CEO Dmitry Chernyshenko said in a statement.
Volkswagen becomes Sochi's sixth Tier One sponsor and will supply around 3,000 vehicles to the organisers in a deal valued at $100 million.
(Reporting by Gennady Fyodorov; editing by Justin Palmer)