[2] The Italian National Olympic Committee (CONI) announced the selection of Rome as Italy's candidate city on May 19, 2010.

[3] Rome was selected ahead of Venice which was deemed unable to fulfill requirements set by the IOC for hosting the Games; among other things, it relied too heavily on venues outside the city, including in Treviso and Padua.

[3] The initial Rome proposal included a $61 million bid budget and a plan to utilize 70 percent of existing venues.

[3] Ferrari president Luca di Montezemolo, who ran the 1990 FIFA World Cup, was asked to lead the bid committee,[4] but turned down the offer.

[7] In a September 2011 interview, IOC President Jacques Rogge defended Rome's and Madrid's ability to host the 2020 Olympics in spite of the ongoing eurozone debt crisis.

Of those polled who supported the bid, 70% were in favor because they believed that hosting the Olympics would create economic benefits and jobs.

[18] On February 14, 2012, Italian Prime Minister Mario Monti called an end to the bid, citing uncertain costs and unknown financial benefit.

[23] Tokyo was ultimately elected as the host city of the 2020 Summer Olympics at the 125th IOC Session in Buenos Aires, Argentina.

Cortina d'Ampezzo successfully bid for the 1944 Winter Olympics but these games were cancelled due to World War II.

Among the main goals highlighted in the bid's vision was environmental sustainability through efficient use of energy and the optimization of existing facilities.

[24] Hosting the games would have facilitated urban renewal in the Tiber River Park (Parco Fluviale del Tevere), the construction of Tor Vergata Sports City (Città dello Sport di Tor Vergata), and the upgrade of transport infrastructure in the city, including the airport.

Other existing venues included the Piazza di Siena for horse jumping, the Circus Maximus for beach volleyball, the Acqua Acetosa[26] for modern pentathlon, hockey, and archery, the Olgiata for golf, and the Settebagni for canoeing, rowing, and canoe slalom.

[27] The Fiera di Roma was expected to host badminton, cycling, gymnastics, judo, wrestling, handball, boxing, fencing, weightlifting, taekwondo, and table tennis.

[25] The Tor Vergata, located in the outskirts, would have consisted of two newly constructed venues for hosting volleyball, gymnastics, trampoline, and the basketball finals.