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Madrid mayor says no to a 4th straight Olympic bid

A trader reads a newspaper reading "The day after the rejection of the International Olympic Committee" while waiting for the markets to close at the Stock Exchange in Madrid, Monday Sept. 9, 2013. Tokyo's selection over the weekend to host the 2020 Summer Olympics, prompted a rally on the Tokyo Stock Exchange, where the benchmark Nikkei 22 index gained 2.5 percent Monday. (AP Photo/Andres Kudacki)

MADRID (AP) -- After failing in a third straight bid to host the Olympics, Madrid Mayor Ana Botella says the Spanish capital should not try again.

Botella says "Madrid shouldn't seek to hold the games in 2024" because "the bidding race has already provided all the benefits we can ask of it."

The International Olympic Committee voted Saturday for Tokyo to stage the 2020 Games. Madrid was eliminated in the first round of voting with Istanbul falling in the final round.

Madrid's bid was hurt by Spain's economic recession and its shaky record on fighting doping.