Sinan Erden, head of Istanbul’s bid committee, said a report by the International Olympic Committee citing serious financial problems in the Istanbul bid was “not a shock event” and did not rule Istanbul out of the running.
Erdem said, “I would have written the same thing”. The report questioned Turkey’s ability to meet financial projections for the 2008 Games. The country’s currency has plummeted about 40 per cent against the U.S. dollar in the past three months, and unemployment has soared.
But Erdem insists Istanbul would remain in the race until the IOC votes to elect the 2008 host city July 13.
“We’ll continue working in the same way…I think Istanbul is the city that most deserves the Games”, he said.
Istanbul and Osaka have been given the choice to either stay in the race or withdraw.
