New IOC president wants to change Olympic bidding
Buenos Aires, Argentina • Newly elected IOC President Thomas Bach says he wants to change the bidding process for future Olympics and make sustainable development a key priority.
In what could be seen as a reference to discontent in Brazil at the spiraling cost of two major sporting competitions the 2016 Olympics and the 2014 World Cup Bach says he wants the populations of potential host cities to "be part of the candidature at a very early stage" to ensure "more participation and support."
Madrid's unsuccessful bid for the 2020 Games faced criticism as Spain grapples with a double dip recession and 27 percent unemployment.
The 2014 Winter Olympics in Sochi, Russia, will run up a budget of more than $50 billion the most expensive games to date.