IOC Report Raises Concerns About '20 Games Bid Cities
The IOC today issued a report that identifies several concerns around the three competing bids to host the '20 Summer Games. These include concerns about the "guaranteed maximum" hotel rates in Tokyo. The IOC also said it is "cautious" about whether Madrid can meet its target of $694M in sponsorships. Spain is currently in the "sixth year of an economic slump." It also said that in Istanbul, there is "a 'high' risk of traffic congestion because of plans to stage sports in the European and Asian sides of the city" (BLOOMBERG NEWS, 6/25).