Madrid is drawing off Pyeongchang's perseverance as it bids to host the Olympics for a third straight time, in 2020.

Madrid mayor Alberto Ruiz-Gallardon scheduled a news conference for Wednesday when Madrid's 2020 bid will be officially revealed.

Spanish Olympic Committee (COE) spokesman Jose Maria Cabellon stated that Ruiz-Gallardon will unveil "a presentation relating to the Games. A proposal will be put forth that will then be studied by COE."

Madrid lost to London 2012 and Rio de Janeiro 2016. Pyeongchang, South Korea, will host the 2018 Winter Games after stumbling against Vancouver 2010 and Sochi 2014 previously.

Rome is the only declared candidate for 2020 with Tokyo and Istanbul expected to bid, AP reported.