The Sochi Olympic Oval is a description of a 8,000-seat multi-purpose arena

Arena

An arena is an enclosed area, often circular or oval-shaped, designed to showcase theater, musical performances, or sporting events. It is composed of a large open space surrounded on most or all sides by tiered seating for spectators. The key feature of an arena is that the event space is the...

 in Sochi

Sochi

Sochi is a city in Krasnodar Krai, Russia, situated just north of Russia's border with the de facto independent republic of Abkhazia, on the Black Sea coast. Greater Sochi sprawls for along the shores of the Black Sea near the Caucasus Mountains...

, Russia

Russia

Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...

 that is currently in the planning stages. It is due to be open in 2011. After it is completed, it will host the speed skating

Speed skating

Speed skating, or speedskating is a competitive form of ice skating in which the competitors race each other in traveling a certain distance on skates. Types of speed skating are long track speed skating, short track speed skating, and marathon speed skating...

 events at the 2014 Winter Olympics

2014 Winter Olympics

The 2014 Winter Olympics, officially the XXII Olympic Winter Games, or the 22nd Winter Olympics, is a major international multi-sport event scheduled to be celebrated from 7 to 23 February 2014, in Sochi, Russia with some events held in the resort town of Krasnaya Polyana. Both the Olympic and...

. It will cost $

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

32.8 million to build the venue, including the temporary works for the Olympics. After the Olympics, it will be turned into a market place.