Madrid, February 10th 2005  
 
 The Cabinet of the City Council of Madrid has reached an agreement in order to buy Madrid Sports Infrastructures Company’s share capital, which is a company created to manage the infrastructures related with the Madrid 2012 bid. 6 million euro is the approved investment by the Cabinet of the City Council and 60,000 company’s shares will be purchased in this operation.

The Deputy Mayor of Madrid, Manuel Cobo, announced this morning that the company will start to develop its activities at the beginning of next April and it will get all the projects that were assigned to Municipal Floor Company (EMS). The Olympic Ring, Manzanares Park Tennis Centre, the enlargement of Madrid Stadium and Aquatic Centre stand out among them.

Besides of this, the Municipal society will carry on the rest of sports facilities and the infrastructure required to be the Olympic city in 2012 and to carry out the project that was presented to the International Olympic Committee. These are the targets why this company was created on the last January 27th.

The Madrid Sports Infrastructures 2012 Company belongs to the Urban Infrastructure Government Department. After the approval, all the share capital will be municipal although the Mayor of Madrid, Alberto Ruiz-Gallardon, seated that the Spanish Government and the Community of Madrid will be able to take part in it if Madrid is finally chosen to host the Olympic Games the next July 6th in Singapore. 

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