The Sochi 2014 Olympic steering committee has posted an operational profit of five billion rubles (about 140 million U.S. dollars), the organizers said Monday.

"The estimated operating profit which the organizing committee received is in the region of five billion rubles," Committee head Dmitry Chernyshenko told reporters.

He added that the International Olympic Committee (IOC) had decided to reinvest 20 percent of that money into development of mass sports in Russia.

According to Chernyshenko, the Sochi-2014 steering committee has earned 1.5 to 2 billion rubles (42 million to 56 million dollars) on merchandising, while the rest of the sum derived from assessment of the committee-owned property.

He also said that the Internet domain used for Sochi-2014 Winter Olympics could be handed over to the Sochi city hall free of charge. Other intellectual property of the Games will be managed by Russia's National Olympic Committee in favor of Olympic movement.

"We may be proud for what we've achieved. The Games were commercially successful," the manager said, adding that he had no plans to continue his career in a sports-related field.

Russia hosted the 22nd Winter Olympics and 11th Paralympics in February-March 2014 in the Black Sea resort of Sochi.