alt August 22 - Madrid 2016 officials are hoping that the European Grand Prix, due to take place in Valencia tomorrow, will help boost their hopes of hosting the Olympics.

Spain’s third biggest city will be one of Madrid 2016’s most important sub-venues if the capital is chosen for the 2016 Games and will host the sailing competition.

Madrid 2016 are sending 15 volunteers will be attending the Formula 1 event in Valencia this weekend having won the prize of tickets offered by the bid.

The city first hosted a Grand Prix on its brand new harbour-side street circuit last year and was won by Ferrari's Felipe Massa, who is ironically Brazilian.

Rio de Janeiro are among Madrid's main rivals to host the 2016 Olympics.

The other candidates are Chicago and Tokyo.

The International Olympic Committee is due to announce its decision following a vote at its Session in Copenhagen on October 2.

Its innovative track design challenges drivers while taking advantage of the setting: passing through Valencia’s historic fish market and crossing the city’s canal with most of the lap action taking place at the water’s edge.

Madrid 2016 bid-leader Mercedes Coghen said: "Valencia is Spain’s third largest city and will be the setting for the sailing competitions as one of our most important sub-venues if Madrid is chosen to host the 2016 Olympic and Paralympic Games.

"We will show again at this weekend’s Grand Prix how prepared Spain’s sporting infrastructure is to host top international sporting events that everyone across the world will enjoy.”