Madrid hopes frugal Olympic bid will win over IOC

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MADRID (AP) — With Spain mired in recession, Madrid faces the tough task of convincing the IOC that it has the resources to host the 2020 Olympics.

The IOC's evaluation commission will be in the Spanish capital next week to examine the bid's venues, finances, safety and other aspects that are deemed critical to securing the multi-billion dollar event.

Alejandro Blanco, president of the Spanish Olympic Committee, says the key is to show that Madrid's "smart" and spendthrift approach is better suited for the games than that of Istanbul and Tokyo.

The host city will be selected on Sept. 7.