By Duncan Mackay

September 18 - Volkswagen today became the latest sponsor of the 2014 Sochi Winter Olympics in a deal that organisers claims brings total sponsorship revenues to more than $750 million (£460 million).

Dmitry Chernyshenko, the chief executive of Sochi 2014, signed the $125 million (£77 million) agreement with Dietmar Korzekwa, the director general of Volkswagen Group Rus, in the Black Sea resort city.

Volkswagen will provide the organising committee with about 3,000 vehicles for use during preparations for the Olympics and the Games themselves.

Most of the vehicles will be produced in the Volkswagen factory in Russia's Kaluga region, southwest of Moscow.

Korzekwa said: "The support of the Olympic Games in Sochi will help us to demonstrate our automotive competence and the strong connection with Russia and our Russian consumers."

Volkswagen was also the official automobile partner of the 2008 Olympics in Beijing.

Volkswagen is the sixth Tier One sponsor signed by Sochi.

The others are Aeroflot, telecommunication firms Rostelecom and Megafon, oil and gas company Rosneft and lender Sberbank.

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