| MADRID'S application to host the 2020 Olympic games could be in jeopardy because of Spain's precarious economy – despite the city having netted the highest score out of the three remaining candidates.
Istanbul - applying for the fifth time - has 6.98 points, whilst Tokyo – applying for the fourth time – has 8.02 and Madrid, 8.08.
However, the International Olympic Committee says it is conscious of the country's delicate finances, which could act as a barrier to Spain's hosting the games in eight years' time.
Additionally, the former Brazilian capital, Rio de Janeiro, was neither the favourite nor the highest-scoring candidate when it won the honour of hosting the 2016 Olympics three years ago.
The Olympic Committee has reservations about all three cities, although mainly with Madrid, given that the poor state of Spain's economy could mean difficulties in finding sponsors for the games.
Tokyo, although it has the cash, the infrastructure and the experience – having hosted the 1964 Olympics – may have problems with power supplies following the earthquake, tsunami and nuclear explosion in 2011, and Istanbul is also vying for the chance to host the football Euro Cup in the same year, which the Committee considers unrealistic.
And if the Committee follows its own unofficial rule of alternating continents, with Europe hosting this year's games, in London, and the Americas having been chosen for the next games, in Rio de Janeiro, it will be Asia's turn to act as venue for the 2020 Olympics.
All three candidates have been invited to the London 2012 Olympics to see how the games are run, and at the beginning of next year, the Committee will visit each city, which will then have to submit a full report and verbal presentation.
The final decision will be made in September 2013.