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September 29, 2009 | Mitch Levinson | Comments 0

Why would the IOC choose Madrid for the 2016 Olympics?

madridChicago seems to be the favored city (odds are 8/11 according to some bookies to host the 2016 Olympic Games, and President Barack Obama himself is headed to Copenhagen to support the bid. But there are compelling reasons the other three cities are still in the running. Today, we’ll take a look at Madrid, a city that narrowly missed the bid for the 2012 Olympic Games.

Infrastructure is ready to go in Madrid, with more than three-quarters of the needed venues already constructed. The city has already hosted more than 1,250 sporting and international events in the last 10 years alone, not to mention its part during in the 1992 Olympic Games in Barcelona. Spanish King Juan Carlos will be in Copenhagen to vouch for the full financial support of Madrid’s local and federal governments.

One of Madrid’s favorite selling points is its claim to be the safest choice among the four remaining cities. The city has one of the lowest crime rates in Europe, and they plan to have more than 72,000 multi-lingual security guards in place for the Games.

When IOC members visited Madrid earlier this year, one of their concerns was Spain’s noncompliance with certain international regulations related to drug testing. In preparation for the October 2 meeting in Copenhagen, Spain changed its anti-doping laws so that drug testing of athletes will be conducted from 6 a.m. to 11 p.m. rather than 8 a.m. to 11 p.m. This change aligns their rules with international regulations and increases their chances of bringing home the bid.

For more information concerning Chicago’s bid to host the 2016 Summer Olympics and its potential effect on Chicago real estate, subscribe to ChicagolandRealEstateForum.com.

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Filed Under: 2016 Olympics

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