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Rio aims for domestic sponsors

Updated: November 6, 2013, 8:44 PM ET
Associated Press

RIO DE JANEIRO -- With public money for the 2016 Olympics getting tougher to find, Brazilian organizers are scrambling to raise record amounts of local sponsorship revenue to cover any budget shortfall and avoid a government handout.

In an exclusive interview with The Associated Press, the chief commercial officer for the Rio de Janeiro Games, Renato Ciuchini, said his new goal is to generate between $1.3 billion and $1.5 billion in domestic sponsorship income. This would double what has ...

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