Nike Free Mountain 2007 competition will be in Krasnaya Polyana from March 1st to March 3rd. Program includes freeride and jibbing (sub-style of freestyle that uses obstacles such as trees, stumps, rails, etc.) competitions, and will gather around 200 skiers and snowboarders from Russia. Prize fund is $15 000 US.
 
Source: sport-express.ru

Nike regularly sponsors other sport and adventure competitions in Sochi in spring and summer.