This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IOC Panel Sets Off On Visits To 2020 Bid Cities

By STEPHEN WILSON

LONDON (AP) â¿¿ Seven months before the vote, the International Olympic Committee is sending a panel of experts on a series of site-inspection visits that could prove influential in the race to host the 2020 Summer Games.

The IOC's evaluation commission is heading to Japan this week on the first leg of its three-city tour to examine the bids from Tokyo, Madrid and Istanbul â¿¿ a key phase in assessing the pros and cons of the multi-billion dollar projects.

Chaired by IOC Vice President Craig Reedie of Britain, the 14-member panel will meet in each city with bid leaders, visit proposed venues and hone in on issues such as finances, accommodations, transportation, security and public support.

The commission will later compile a detailed technical report that will be submitted to the 100-plus IOC members who will select the host city by secret ballot Sept. 7 in Buenos Aires, Argentina.

"The interesting thing about this one is that all three have been candidates before on a number of occasions," Reedie said in a telephone interview with The Associated Press before flying to Tokyo on Thursday.

Istanbul is bidding again after four unsuccessful attempts, Madrid is back for a third time in a row and Tokyo for a second consecutive try. Tokyo hosted the 1964 Olympics, and Spain held the games in Barcelona in 1992. Istanbul is seeking to bring the games to a new region and to a predominantly Muslim nation for the first time.

The IOC visits come with all three countries facing serious political or economic challenges.

"The whole evaluation process .... is in some ways a risk assessment," Reedie said.

Spain is still in a deep recession with 25 percent unemployment, and Prime Minister Mariano Rajoy has been fending off allegations that he received money from a slush fund. Japan is trying to revive a stagnant economy and is engaged in a potentially volatile territorial dispute with China over uninhabited islands. Turkey is dealing with the spillover of the civil war in neighboring Syria, and the U.S. Embassy in Ankara was hit by a suicide bombing Feb. 1 that killed the attacker and a Turkish security guard.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs