The cost of the Sochi Olympics has been massively exaggerated by the Western Propaganda Ministry (sorry, I meant free press)
They included in their reported numbers several other infrastructure projects penciled for Fiscal Year 2014 all over Russia. The entire Sochi region has been turned into a world class luxury resort. The cost of the Olympics was only a fraction of that sum reported by the likes of the "Guardian" etc... Like I said before, not one thing you read about Russia in the western media is remotely true.
That is not to say of course that there isn't corruption in Russia, you bet there is. But it is no worse than your run-of-the-mill country, there is nothing exceptional about it.
All this fuss about Blatter has been kicked up since Russia got the 2018 World Cup, some circles in the West did not like that, not one bit.
I can provide examples of mythical corruption taking place in western countries as well.