Ruiz-Gallardon is determined to bring the Games to Madrid

The Spanish capital was the last but one city to be knocked out in the race for the 2012 Games last year.

"We will fight so that the Olympic flag will fly over the Spanish capital," said mayor Albert Ruiz-Gallardon.

"We are going to stage the best ever Olympic Games with a doubling of our institutional, civic and emotional support for the bid."

London eventually ran out winners after beating Paris in Singapore but International Olympic Committee president Jacques Rogge has indicated that European cities would still have the chance to bid for the 2016 Games.

"If a bid is strong enough, the idea of rotating the Games between continents will not come into play," he said in March.