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IOC: 2020 Madrid Olympic bid costs 'attainable'

Updated: March 21, 2013, 4:03 PM ET
Associated Press

MADRID -- The IOC believes the $1.9 billion construction costs for holding the 2020 Olympics in Madrid are "attainable" for the recession-hit country.

"The IOC is very well aware the games simply cannot get more expensive, more expensive and more expensive every time," IOC vice president Craig Reedie said Thursday at the close of his evaluation commission's four-day inspection of Madrid's Olympic bid.

With Spain sinking into a second recession in three years and with unemployment ...

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