The International Olympic Committee (IOC) continued its inspection of venues included in Madrid's 2020 Olympic bid on Monday (March 18th).

Madrid is competing with Istanbul and Tokyo for the 2020 Games and is bidding for a third consecutive time after failing to land the 2012 and 2016 editions.

According to the Madrid dossier, 28 of the 35 planned venues are already built, while around 40 percent of tickets will cost less than 40 euros.

On day one of their four-day evaluation visit to the Spanish capital, the Evaluation Commission visited the Las Ventas Bull Ring where basketball would be played.

They also visited the Palacio de los Deportes, proposed venue for volleyball, and Retiro Park, where beach volleyball would take place.

Earlier, the commission visited the Santiago Bernabeu, home of Real Madrid and the stadium that would host the finals of the football tournaments.

According to an initial estimate, a Madrid Olympics would cost 1.52 billion euros, plus another 150 million for services such as health and security, the bid team said.

That compares with the estimated 11.2 billion euros (9.0 billion pounds) spent on the London Games and around 9.2 billion euros for Athens, far above early projections.

The commission will continue the evaluation until Thursday (March 21th) when they will hold a news conference to share their impressions of the bid.

Presented by Adam Justice