Spain's Olympic Committee on Wednesday approved Madrid's candidacy for the 2016 Olympics, two years after it lost a bid to host the 2012 Games to London.

Chicago, Tokyo and Rio de Janeiro have been approved as candidates by their national Olympic bodies while other possible bidders include Doha in Qatar and Prague in the Czech Republic.

The final winner will be chosen by The International Olympic Committee in October 2009 in Copenhagen, Denmark.

Bids must be submitted by September of this year.

Madrid finished third in voting for the 2012 Games in July 2005, which London eventually won over Paris. Madrid is one of the only major European capitals which has never staged the games.