The mayor of Rome has revealed that Luca di Montezemolo has turned down the chance to lead the city's bid to host the 2020 Olympic Games.

The Ferrari president, who helped to organise the 1990 football World Cup, had been put forward as potential leader of the Olympic bid - thanks in no small part to the success he enjoyed when putting Italia 90 together.

However, despite the approach, di Montezemolo has elected to turn down the position, with Reuters reporting that he had only been interested in the job is certain levels of financial and government support could be provided.

"I'm sorry that Luca di Montezemolo has decided there are not the conditions to accept the role," mayor Gianni Alemanno told reporters.

Rome is going up against rivals from the likes of Dubai and Japan to try and secure the games.

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