The Madrid 2020 Olympic and Paralympic Games bid team was in Lausanne, Switzerland for the Association of National Olympic Committees (ANOC) Extraordinary General Assembly, where the bid team highlighted its two key messages.
The first is that the city offers zero financial risk in hosting the Games with 80 per cent of the main infrastructure and venues already built, and second that financial guarantee will allow Madrid to focus immediately during the next seven years on preparing a memorable Games for the athletes and the Olympic family, a Games in which sport will come before everything else.
Madrid 2020 said the Olympic construction budget is only $1.5 billion because 80 per cent of the facilities are already complete.
Spain’s Secretary of State for Trade Jaime Garcia-Legaz said, “Spain’s economic foundations are solid, multi-faceted, and capable of meeting the investment budget required to stage the Games”.
Madrid 2020 CEO Victor Sanchez said only four permanent facilities and three temporary venues need to be built. He said, “Madrid’s legacy is not on blueprints. It’s out there on the ground already”.