Istanbul eyes 2020 Games

Istanbul is ready to bid for the 2020 Olympics, Turkey's sports minister said Wednesday.

Suat Kilic told CNN-Turk television that Turkey was set to meet all the requirements for hosting the games.

"Inshallah [God willing], we will bid and fulfill requirements to the letter," Kilic said.

The Turkish Olympic Committee said the deadline was July 29 and a final decision would be made after a meeting with Prime Minister Recep Tayyip Erdogan.

Kilic said Turkey enjoys political stability and a relatively stable economy.

"We are one of the rare countries that can shoulder the financial burden of the Olympics," Kilic said.

Istanbul has mounted four previous unsuccessful Olympic bids.

Madrid announced its 2020 candidacy Wednesday. Rome has already declared its bid, and Tokyo is expected to confirm its candidacy this week.

The IOC will select the 2020 host city in 2013.