IOC Visits Proposed Site for Olympic Stadium in Spain

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The International Olympic Committee continued their tour around the venues included in Madrid´s 2020 Olympic bid on Tuesday (March 19).

On the second day of their four-day evaluation visit to the Spanish capital, the Commission visited the building work of the Olympic stadium.

The Olympic stadium would be built at the site of La Peineta stadium.
Currently undergoing revamping, Madrid´s city hall sealed an agreement with Atletico Madrid Football Club so the club bears the costs of the works and the city would cede the right to use the public facilities to Los Colchoneros for the next 75 years after the Olympic Games.

After the overhaul which is expected to be finished by 2015, the stadium will have capacity of 67,500.

The Evaluation Commission also visited the IFEMA convention and congress center and Real Madrid´s Valdebebas training facilities.
Earlier in the morning, the Commission were received by Sports and Education Minister Jose Ignacio Wert and Industry Minister Jose Manuel Soria.

At a brief meeting, the Ministers talked about the political and social support the Madrid bid has and the legal aspects surrounding the Games.

According to an initial estimate, a Madrid Olympics would cost 1.52 billion euros, plus another 150 million for services such as health and security, the bid team said.

That compares with the estimated $14.5 billion (9.0 billion pounds) spent on the London Games and around $12 billion for Athens, far above early projections

Madrid is competing with Istanbul and Tokyo for the 2020 Games and is bidding for a third consecutive time after failing to land the 2012 and 2016 editions.

According to their dossier, 28 of the 35 planned venues are already built, while around 40 percent of tickets will cost less than 40 euros.
A final decision on the host city for the 2020 Games will be made in Buenos Aires on September 7.

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