Olympics: Brazil hoping to host Games

Brazil are to put in a bid for the 2016 Olympic Games, on the back of their confirmed role as host of the 2014 World Cup soccer finals.

Officials in Rio de Janeiro say the city will lay much of the groundwork for the Olympics when it prepares for the global soccer extravanganza.

The city will spend just US$508 million ($672.8 million) to get ready for the Olympics -- far less than the US$1.5 billion that London is projected to spend on sports venues for the 2012 Games.

The Brazilian Olympic delegation will present Rio's bid to the International Olympic Committee on Friday at its headquarters Lausanne, Switzerland.

The IOC will announce the host city in October 2009 at a ceremony in Copenhagen, Denmark.