D-Day for Madrid’s 2020 Olympic bid approaches

Madrid, Istanbul and Tokyo are the final three cities in the shortlist to host the 2020 Olympic Games

On September 7th, the International Olympic Committee (IOC) votes on which city will host the 2020 Olympic Games, with Madrid watching nervously as its name, along with Tokyo and Istanbul, vies for the right to host the world’s largest and most lucrative sporting event.

Spanish government officials are confident that they can convince the IOC that the country needs the Games more than Turkey or Japan, and hopes are high that a country famed for its recent sporting prowess – particularly on the football pitch – will be given the chance to show just how well-managed a Madrid Games could be…

However, Madrid hopes its trump card will be the fact that its ‘Austerity Bid’ will require just €2.5bn of the €3.9bn budget to be spent on infrastructure, with much of what will be required already in place. The government believes that such cost-saving measures will be key in winning public backing during a time in which many millions have faced an erosion in their standards of living.

Compared to Istanbul’s proposed budget of €20bn, and Tokyo’s more modest €5bn, the Madrid option is certainly the cheaper one. Whether this will be enough to secure the Games for the city after failures in 2012 and 2016 remains to be seen.

It is felt that the IOC must be convinced that Madrileños, and citizens throughout Spain, will be able to reap a pre- and post-Games benefit, and that the Games’ legacy can be as strong as that left by Barcelona ’92, despite Madrid’s reduced budget.

Verónica Molina Pérez-Tome, March Sports Café’s Head of Marketing, has expressed sympathy with those compatriots who may be dismayed that money earmarked for the Games could instead be used to fund schools and hospitals.

“I understand this viewpoint but I don’t agree with it,” she told Reuters. “I don’t agree because this is an investment and investments almost always pay off at some point.

“Maybe it’s not the best time to be diverting cash from other areas but the money will come back. Considering everything we are experiencing at the moment, Spain needs a boost, and this is a brilliant opportunity. Many people are leaving Spain, but the Games could provide an injection of positivity and a sense of optimism about the future.”

The CEO of international relations for the Madrid bid, Theresa Zabell (an Olympic gold medallist for sailing in both 1992 and 1996) added: “What is most exciting about being here is what it could mean for the future. It could mean an improvement in the lives of a great number of people, and that is a huge motivation.

“Spain needs more youth employment and having the Games here in Madrid in 2020 will open up fantastic opportunities for young people.”

For now though, they will all have to wait. Madrid eyes will gaze anxiously towards Buenos Aires on Saturday, September 7th, when IOC members at the 125th IOC Session decide the city’s fate. A nation holds its breath.