Sochi’s status as Russia’s sporting capital was enhanced on Thursday when it became the host for the country’s first Formula 1 Grand Prix, Bernie Ecclestone, F1 boss, put pen to paper on a six-year deal which will see racers zooming around a purpose-built track in the Olympic complex in the Imereti Valley from 2014.m At a meeting with Vladimir Putin today, Ecclestone applauded the on-going work for the games and said: “I sincerely hope that Formula One is going to play a big part in what I can see happening in Sochi.”

Sochi Signs Deal for Russia’s First Grand Prix | The Moscow News.

Sochi is a resort town on the Black Sea, closer to Georgia than to Moscow.  But the rumors were true; there will be a Russian Grand Prix in 2014.