Olympic bids are down to the wire

Istanbul, Madrid or Tokyo will host 2020 Games

The battle for the right to host the 2020 Summer Olympics entered the final stages on Tuesday with the Istanbul bid delegation saying its city would need to spend less than the other two finalists on "dedicated Olympic projects".

That claim will surprise many, as one of the Madrid delegation's strongest selling points was that the economic crisis in Spain would not affect its bid because its budget was a modest 2.37 billion euros ($3.12 billion) as most of the venues and the infrastructure are already in place.