Budapest announces intention to bid for 2024 Olympics

President of the Hungarian Olympic Committee Zsolt Borkai, left and Budapest Mayor Istvan Tarlos, centre, arrive for the general meeting of the Metropolitan Municipality in Budapest, Hungary, Tuesday, June 23, 2015. The general meeting voted Budapest as the candidate city to host the Summer Olympics in 2024. (Attila Kovacs/MTI via AP)

BUDAPEST, Hungary — The city of Budapest and the Hungarian Olympic Committee have officially announced their intention to bid for the 2024 Olympic Summer Games.

Budapest Mayor Istvan Tarlos and Zsolt Borkai, head of Hungary’s Olympic agency, said in a letter to Thomas Bach, president of the International Olympic Committee that they “wish to participate in the application and bidding process” for the 2024 Olympics.

The letter published Thursday said that Hungary was alone among the 10 most successful countries in the summer Olympics yet to host the event and also highlighted the IOC’s efforts to cut organizational costs, therefore “breaking the monopoly of the largest and wealthiest countries” as hosts.

Budapest joins Boston, Paris, Rome and Hamburg as the officially declared candidates. The deadline to submit bids is Sept. 15.