Madrid 2020 Emphasizes Zero Financial Risk To IOC

In its presentation to the International Olympic Committee (IOC) Wednesday, Madrid 2020 emphasized that with 80 per cent of the main infrastructure and venues built, the city can stage the Games with zero financial risk.

HRH Prince Felipe, Prince of Asturias, stressed during the presentation Spain’s diversity as a country, which has made it one of the most popular tourist destinations in the world, and said that the Games will help a generation of Spanish people to feel that the country is moving forward again and to show the world what it can do.

He said, “Madrid 2020 is not a bid based on dreams because we have already built it. It is a bid in keeping with the times. We have shouldered the responsibility and reduced the risks so that you, the IOC, do not have to take any”.

Luis de Guindos, Spanish Minister of the Economy and Competitiveness said, “choosing Madrid is anything but a financial risk. It is a safe choice because the city is already prepared”.

He added, “the International Monetary Fund, the OECD and the European Commission have all said that Spain will register sustainable economic growth over the next five years. Spain also has the greatest growth potential of Europe’s five leading economies over the next decade, thanks to its increasing competitiveness in international markets and a growth in internal demand. In fact our country leads the way in terms of export growth in the EU, registering a 4.2 per cent rise on the previous year, outstripping Germany’s 3.3 per cent”.

He reminded everyone that the public budget for the 2020 Games is $1.9 billion, saying “it is one of the lowest in Olympic history and it is guaranteed by all three levels of government. In other words, each of them has to spend only $90 million a year through to 2020, which is only a very small part of their budgets”.

Ana Botella, Mayor of Madrid said, “Madrid is recognized around the world as one of the cities offering the best quality of life, something that has not come about by chance”.

She added that the city has cut its greenhouse emissions and pointed to Madrid 2020’s objective of staging the first ever carbon-neutral Games.

She ended her presentation by referring to the excellent level of accessibility offered by the city’s public transport service, with 70 per cent of the metro network accessible to wheelchair users, a figure that will rise to 100 per cent by 2020, and with its bus routes also having been adapted.

Bid CEO Victor Sanchez explained the technical details of the project. He said, “we have spent ten years watching and listening. We have learned from the IOC, and our vision of the Games is based on one word – responsibility”.

He added, “Madrid is a reality, with tried and tested venues already in place, and we will blend that readiness with the spirit of celebration the Spanish are known for”. He said the post-Olympic use of the city’s venues was guaranteed. “Only four permanent venues and three temporary ones need to be built to stage a great Games in Madrid, which will boast the Estadio Bernabeu, Las Ventas and El Retiro as truly spectacular settings”.