PanStadia & Arena Management Magazine is the undisputed world leader for the business of stadia, arenas, sporting events and venues on a global scale.

Rome officially withdraws bid to stage 2024 Olympics

The Italian National Olympic Committee has officially suspended Rome’s bid for the 2024 Olympic Games.

Committee president Giovanni Malagò has written a letter to the International Olympic Committee (IOC) in which he said Rome would “interrupt the candidacy”.

The move comes after Rome’s city council voted last month to withdraw support for the bid on the recommendation of its Mayor, Virginia Raggi.

Raggi, who represents the anti-establishment Five Star Movement, said it would be “irresponsible” to take on the cost of an Olympic bid for a city struggling with poor public services.

Malagò has, however, left open the possibility of reviving the bid if there is a change in the city’s government.

Los Angeles, Paris, and Budapest are now the only three remaining cities in the running for the Games. The host city will be selected by the IOC in September 2017.

The interruption of the bid appears to be a further signal that the IOC is failing to convince cities that hosting the Games should be seen as advantageous to a city rather than as a financial burden.

But a city government panel in Tokyo warned last month that the cost of the 2020 Olympics could exceed US$30bn, more than four times initial estimates.