Olympics: Madrid 2016 bid cost EUR 37.8m

10th October 2009, Comments 0 comments

Madrid's candidature for the 2016 Olympics cost EUR 37.8 million, said the city's mayor, who confirmed that any decision on whether to launch a third successive bid would be taken in 2011.

Madrid - Madrid's candidature for the 2016 Olympics cost EUR 37.8 million, said the city's mayor, who confirmed that any decision on whether to launch a third successive bid would be taken in 2011.

Madrid was beaten by Rio de Janeiro last week in the final round of voting by the International Olympic Committee to decide the host of the 2016 Games. Four years ago, it lost to London for the 2012 Olympics.

Of the EUR 37.8 million invested, 16.8 million came from the city budget and the rest from private businessman, Madrid Mayor Alberto Ruiz-Gallardon told a news conference Thursday.

He said that the Olympic stadium, which will house the Atletico Madrid football club, would be completed in 2012 but that the Olympic Village would not be built for the moment.

The mayor said a decision has not yet been made on whether to bid again.

"It is in 2011 that Madrid will decide if it can bid for the Games in 2020 or if it thinks it is better for 2024," he said.

"I am convinced that Madrid will one day end up hosting the Games," said the mayor, who must face elections in 2011.

AFP/Expatica

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