Yesterday in Lausanne, Switzerland, three cities, Tokyo, Istanbul and Madrid, submitted their official bid books to the International Olympic Committee (IOC) as part of their efforts to secure the 2020 Summer Olympics and Paralympics for their cities.
The books contain each city's plans for the Games as they relate to key hosting aspects such as venues, budgets, financial guarantees, security, accommodations, and transportation.  These are scheduled to be made public today.  The host city is to be named on September 7 at the 125th IOC Session in Buenos Aires, where a new IOC President is also to be chosen. All the bids are being viewed against a backdrop of the global economic downturn, with hosting costs and the national economy possibly playing a role in voter decision-making.
Baku in Azerbaijan and Doha in Qatar took part in the first stage of the bid process but were eliminated from contention in May at a meeting of the IOC's Executive Board in Quebec City, Canada. Rome had considered a bid but withdrew early in the process because of Italian economic concerns.  An IOC report said Istanbul's bid "offers good potential" while  Madrid had "a strong application" and Tokyo had "a very strong application."
Bookmakers have given Tokyo best odds to receive the Games at 4/6 compared to 5/2 for Istanbul and 3/1 for Madrid.  Tokyo's bid delegation included a member of the women's FIFA World Cup champions Homare Sawa, 2008 Summer Paralympics swimming gold medalist Takayuki Suzuki, President of Tokyo 2020 and Japanese Olympic Committee Tsunekazu Takeda, bid chief executive Masato Mizuno, senior director for planning for sports at Tokyo 2020 Katsura Enyo, and a member of the Executive Board for Tokyo's bid Yasuhiro Nakamori.  Tokyo last hosted the Olympics in 1964 and had previously won the rights to host the later canceled 1940 Summer Olympics. This is their second consecutive bid, having lost to Rio de Janeiro for the 2016 Summer Olympics. Bid organizers believe the Games would be an uplifting force for a country still recovering from a natural disaster in 2011.  A possible complication to Tokyo's bid is territorial disputes with China. 
Sawa is quoted by Inside the Games, an Olympic and Paralympics news site, saying, "I want to feel that deeply moving spirit from the London Games once again in Tokyo, [...] I want to do all I can."
Takeda is quoted by Inside the Games saying of the bid, "With tremendous support from people in Tokyo and across Japan, we have celebrated a memorable milestone today with the submission of our Candidature file, [...] Based on lessons from our bid for the 2016 Olympic and Paralympic Games, we have retained the best of that bid plan while adding important new strengths. Now that our Candidature file is complete, Tokyo is one step closer to implementing an innovative and inspiring Games plan. The Games in 2020 in Tokyo will offer athletes, spectators and Olympic and Paralympic family members a true once-in-a-lifetime experience." 
Most of the infrastructure for a Tokyo Games has been built, which assists in keeping costs down as the world economy is a potential concern for financing the Games.  Takeda remarked, "Many of our venues are in place; most of the games infrastructure is in place and the $4.5 billion budget to complete these tasks is already in the bank." Despite Tokyo's positive early response from the IOC, there is no guarantee the city will be selected as previous early favourites have failed to win hosting rights when it came down to the final vote. Amongst possible concerns, their bid could be undermined by South Korea's hosting of the 2018 Winter Olympics. 
Istanbul are bidding for the fifth time, with this bid viewed as their most competitive and serious one to date. Their bid was presented by the city's mayor, Kadir Topbaş, the bid leader Hasan Arat, President of the National Olympic Committee of Turkey and president of the World Archery Federation Uğur Erdener, Deputy Undersecretary of the Minister of Youth and Sports Yavuz Çelik, and general director of sports for Istanbul 2020 Mehmet Baykan. Their bid calls for the largest Opening Ceremonies in Olympic Games history, with a ceremony on the European and Asian banks of the Bosphorus involving a half million people.  Istanbul's bid calls for events to be held on two continents, which the bid organizers believe gives them an advantage of Madrid and Japan,  as this fits within the framework of the Olympic ideal. That they have not hosted the Games previously is another potential positive as the most recent successful bids for the Olympic and Paralympic Games were in cities that had never hosted them before.  Turkey's bid is bolstered by having successfully hosted the IAAF World Indoor Championships in Athletics and the FINA World Short Course Swimming Championships last year. The strength of the Turkish economy is also seen as a positive with their bid going forward. Their bid is hurt by ongoing disputes with Syria that has resulted in 150,000 Syrian refugees living on the Turkish side of the border. 
Arat is quoted by Inside the Games on the bid saying, "This milestone is the latest step in our 20-year journey to win the honour of hosting the Games, [...] For the very first time, our desire to host the Games is matched by our capacity. We have been learning and evolving every step of the way, and today we are submitting a brand new and dramatically enhanced Games concept. Istanbul 2020 has a technically outstanding master plan and delivery structure, and we would grab the world's attention with a breathtaking setting and a series of groundbreaking firsts, such as being the first ever Games held in two continents simultaneously. Now is the time for Istanbul; now we are ready to deliver."  
Istabul's mayor Topbaş arrived at the last minute to assist in the bid submission despite bad winter weather in Istanbul. Quoted by  Inside the Games, he said of the city's bid, "Today is a historic moment for Istanbul and the Turkish nation, [...] Istanbul 2020 is the first sports bid in Turkish history to have been officially launched by the Prime Minister, and it has been identified as a strategic national priority. As such, this bid has the unequivocal backing of every level of Government. [...] The Games would enhance Istanbul's growing global status as a place to visit, do business and, increasingly, stage world-class sport, [...] We are all aligned behind our shared vision: hosting the Games for the first time would be the defining achievement in nearly 100 years of the Republic of Turkey."
Madrid's bid comes at a time when the Spanish economy is in the middle of a second recession where unemployment hovers around 25 per cent and on the heels of two previous failed bids. Bid organizers believe the Games could serve as an economic driver for the country. Juan Antonio Samaranch Salisachs, International Triathlon Union President and IOC member Marisol Casado, International Canoe Federation President and IOC member José Perurena López, Madrid mayor Ana Botella, Madrid's bid leader and the president of the Spanish Olympic Committee Alejandro Blanco, President of the Sports Council Miguel Cardenal, the Councillor for Education, Sports and Youth with the Madrid Regional Government  Lucia Figar, and two-time Olympic gold medal sailor Theresa Zabell were part of the Madrid bid delegation.  In submitting their bid, they gave a half-hour presentation to the IOC's head of Bid City Relations Jacqueline Barrett and Executive Director of the Olympic Games Gilbert Felli. 
Madrid's mayor is quoted by Inside the Games on the bid as "a project the whole country is behind and a dream for all Spaniards [...] The proof can be seen in the fact that three levels of Government are represented here — the city, the regional and the national. We are here to give our support to the countless people who are working for and believe in Madrid's Olympic aspirations."
Like Tokyo, much of the sport-related infrastructure for a Madrid-hosted Games already exists.  This would keep infrastructure costs down and make the Games more affordable for Spain. Their bid is the least expensive of all the submitted bids. London's recent hosting of the Games is seen as potentially harmful to their bid because two Games in Europe within only a few Olympic cycles runs counter to traditional Games hosting. 
The IOC's Evaluation Commission is scheduled to visit each city in March, with their first scheduled visit starting March 4 in Tokyo, then starting March 18 in Madrid and wrapping up their city visits starting March 24 in Istanbul.  Following their visits, the Commission is to write and submit a report to IOC membership by July 4 to assist voters in making their decision.  

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Three cities submit bids for 2020 Summer Olympics