The move is a boost to the Madrid 2016 Olympic Bid since it guarantees that the Olympic Stadium will be used after the Games, should Madrid win the right to host them.
According to the arrangement, Atletico de Madrid will receive the stadium as an "administrative assignment" until 2016 but with all the exploitation rights over it. Once the 2016 Olympic Games have finished, if Madrid is declared as the host city, the City Council will transfer the arena's ownership to the football club.
Alberto Ruiz-Gallardon, Mayor of Madrid stressed that the decision benefits both the city and Atletico de Madrid, because the football club receives a "modern, larger, more comfortable and better adapted arena that will offer the image of an Atletico de Madrid which is at the vanguard of the 21st century". The new arena will have a capacity of 73,000.
