The International Olympic Committee announced Friday the winning city for the 2016 Olympic Games. Despite Spain’s craving for a win, the Spanish capital, Madrid lost its opportunity to host the 2016 Olympic Games.

The present Olympic loss is not Spain’s first loss, having lost two times in four years, after failing to win the bid for the 2012 Olympic Games.

The Spanish grieve after today’s announcement maybe embedded in the fact that already 77 per cent of the facilities were already built or under construction. Without a doubt, money not well spent in current economic times.

The Spanish delegation to Copenhagen included King Juan Carlos, Prime Minister Jose Luis Rodriguez Zapatero and former IOC president Juan Antonio Samaranch.

The Spanish Queen Sofia congratulated Rio de Janeiro on winning the bid to host the 2016 Olympics. Madrid, however was not the only city with the big “L” on its forehead; Chicago which attempted to win with the mammoth influence of “change”-preaching President Barack Obama was voted out in the first round.

On the bright side, the Spanish government will now be able to spend the billions of euros committed to the Olympics on its citizens as opposed to placing them in a bottomless pit.

With an unemployment rate of 18.5 per cent and predictions of 30 per cent in 2010, the much needed cash will definitely be better spent on much needed “change” in Spain itself as opposed to some fancy installations and facilities.