The second stage of the candidature file, which needed to be submitted to the International Olympic Committee (IOC) here by today, focused on governance, legal and venue funding for the Games.

"We have reached a new milestone in submitting the second stage of our proposal," said bid chairman Balázs Fürjes.

“We completely embrace the IOC’s new process for bidding cities, which allows us to continue to hone all aspects of our Games concept over the lifetime of the bid.

“This process takes place with input from our Athletes’ Commission, the international sport federations, subject matter experts in Olympic planning and delivery, and of course the IOC.

“While the geography of the city affords us a natural inclination to Agenda 2020, we are always on the lookout for areas where we can improve and refine, reducing costs and strengthening sustainability and legacy.

“The Budapest bid has to be right for Hungarians, it has to be right for the IOC and it has to be right for the athletes and fans.”

Two temporary venues, which would be located in the City Park Cluster, and one existing standalone venue, feature in the CGI images released by Budapest today.

The Heroes’ Square Stadium would be based in the City Park Cluster and is the proposed home of road cycling, marathon and race walking events at the Games.

Beach volleyball, which would take place in the cluster at the Liget Beach Volleyball Centre, is also depicted in the images released.

It is claimed the proposed location of the beach volleyball site is hugely popular with tourists, as it will be outside the Parliament building of Budapest.

The City Park Cluster would also have the backdrop of art nouveau architecture and is part of a UNESCO World Heritage Site formed by the "Banks of the Danube".

Several listed buildings, including the Vajdahunyad Castle, the Museum of Fine Arts, and the Széchenyi Thermal Bath, are featured inside the proposed cluster.

The mountain bike centre is also depicted and is one of five stand-alone venues included in the Budapest 2024 proposal.

It follows a decision by the bid to reject an initial idea to build a new venue in favour of using an existing venue, with the adjustment recently receiving approval from the city’s council.

The Castle Garden Bazaar, which is one of several planned spectator sites to showcase road cycling competition, was also revealed.

The location is part of the UNESCO World Heritage Site, with the complex featuring a collection of 19th-century buildings and gardens.

Further CGI images are due to be released at a later date, Budapest 2024 have said.

Fürjes discussed the latest adjustments to the Budapest 2024 master-plan at an all-day Olympic camp, which he attended with the city’s Mayor István Tarlós and the bid’s Athletes’ Commission.

Changes include reducing the number of proposed media villages from four to three, as well as the decision to move Opening and Closing Ceremonies to the Puskás Ferenc Stadium, which they revealed they had been considering in July.

A city referendum regarding the Budapest bid for the Games is still possible, after it received initial approval by the Election Committee yesterday.

Should full approval be granted, a total of 140,000 signatures would be required in a 30 day period to force a public vote.

If the required amount of signatures was achieved, a date would still need to be set for the referendum.