Madrid Olympic bid offers strong infrastructure

MADRID (AP) -The organizers of Madrid's 2016 Games bid are trying to persuade the International Olympic Committee's evaluation team that its nearly completed infrastructure makes it the best city to weather the economic crisis.

Spain has been hit hard by the global financial crisis, with an European Union-high unemployment figure of 17.4 percent. It is expected to reach 20 percent next year.

Organizers said the crisis does not present a danger to a budget that will top $5.6 billion.

"I don't think our economy will be the factor that differentiates us from Tokyo, Chicago or Rio de Janeiro,'' Spanish IOC member Juan Antonio Samaranch Jr. said of the bid competitors. "Our bid is characterized by vitality and security.''

Madrid officials say 77 percent of the infrastructure is completed, and the Spanish government has guaranteed to cover any budget deficits.

"Here you can have a games with or without crisis because there is one tremendous and concrete argument: In this country, the majority of the investments have already been made,'' said Samaranch Jr., son of the former IOC president.

Madrid organizers also outlined favorable tax exemptions for the organizing committee, noting sponsors also will receive large tax breaks on advertising expenses.

Madrid's pitch was made to 12 IOC members instead of 13 after chairwoman Nawal el Moutawakel had to return Wednesday for an urgent matter in Morocco, where she is sports minister. El Moutawakel is expected to be back for the last day of the five-day tour on Friday.

The full IOC will vote on the host city on Oct. 2 in Copenhagen.