It has been confirmed in Italy this afternoon that the capital city Rome will bid to host the 2024 Olympic Games.

The European nation had put plans in place to host the 2020 Games, but withdrew their application two years ago due to financial reasons.

However, Prime Minister Matteo Renzi has revealed that his country now plans to contest for the right to hold sport's biggest event in 10 years' time.

"The Italian government, together with CONI, is ready to do its part for a project that isn't based on great infrastructures or big dreams but rather great people. We will be at the vanguard for all the spending controls," he said.

"Our country too often seems hesitant. It's unacceptable not to try or to renounce playing the game. Italy has all it needs to face its problems. You can't not dream."

Along with Italy, it has been reported that France, Germany, USA, Qatar, United Arab Emirates, Azerbaijan, Turkey and Hungary are all eager to host the Games.