Mexico has formally launched a bid to host the 2036 or 2040 Olympic Games, the country’s foreign ministry and national Olympic committee (COM) announced yesterday (October 26).

Marcelo Ebrard, the secretary of foreign affairs, and COM president María José Alcalá confirmed the country’s candidacy at a press conference held at the headquarters of the Mexican Foreign Ministry.

Ebrard said a promotion committee will be announced on November 30 as the first step of the process, which will be made up of businessmen, “cultural representatives,” and athletes.

This will be followed by feasibility studies and assessments to determine the host cities.

The nation’s capital Mexico City staged the Olympics in 1968.

Alcala said that Mexico had been under consideration as a candidate since July when International Olympic Committee (IOC) president Thomas Bach sent a letter expressing his enthusiasm for a potential bid.

Ebrard outlined that, due to the change in the financing system for the Olympics, the government would contribute only 10% of the total expenses and stated that Mexico already had the infrastructure for the event.

He said: "We will initiate the studies requested by the IOC to take into account the changes that have taken place in the Olympic Games financing … there is no bond to be paid in the process.

"The Olympics should fit the cities, not the other way around, not build and then not use the facilities. We would have 15 years, enough time to organize it. If Mexico proposes something, it is to achieve it."

The next edition of the summer Olympics will be held in Paris in 2024, followed by Los Angeles in 2028 and Brisbane, Australia, in 2032.