London bid for the 2012 Summer Olympics being selected by the International Olympic Committee (IOC) when put up against other world cities in a competitive bidding process. On 6 July 2005 at its 117th Session in Singapore, the IOC awarded London the right to host the Games of the XXX Olympiad. The city beat the favourite Paris 54 to 50 on the fourth and final ballot. London is the first city to host the Games three times. At the time of the bid, the budget projection was around £2 billion, but it was later estimated that the true cost would be around £9 billion. The project involved
Madrid bid for the 2016 Summer Olympics in Barcelona. After failing to achieve victory in the election process of the host city of the 2012 Summer Olympics, the city council of Madrid decided to nominate it a candidate to host the 2016 Summer Olympics and Paralympics on July 3, 2006. The nomination was encouraged by statements of the president of the International Olympic Committee (IOC), Jacques Rogge, that European cities would still have a chance to host the 2016 Olympic Games. The International Olympic Committee (IOC) launched the bidding process for the 2016 Summer Olympics and Paralympics on May 16, 2007. On May 30, 2007, the candidature