06/10/2015 12:35 EDT | Updated 06/10/2016 05:59 EDT

Toronto should bid for Olympics again: Marcel Aubut

Canadian Olympic Committee president Marcel Aubut told the Toronto Star that Toronto is ready to bid again for the Summer Olympics and is "the only Canadian city that could offer the site to do this," in reference to holding a Summer Olympics.

Aubut, who is a member of the board for the 2015 Pan Am Games, said that the venues and organization built for the Toronto events make it "a dress rehearsal for something bigger."

Toronto was an unsuccessful Olympic bidder for the 1996 Summer Games held in Atlanta and the 2008 Olympics held in Beijing. International Olympic Committee president Thomas Bach has led his organization into a series of 40 changes, mostly aimed at financial reform after the Olympics became too pricey for most bidders.

Russia spent a record $51 billion US for the 2014 Winter Olympics and the bidding for the 2022 Winter Games saw four European cities withdraw early reducing the field to just Beijing and Almaty, Kazakhstan.

Aubut did not mention to the Toronto Star which Olympics that Toronto should pursue but indicated that he'd promote bid discussions after the 2015 Pan Am Games are completed. Tokyo, Japan has the rights for the 2020 Summer Olympics while Boston, Rome, Paris and Hamburg, Germany are bidding for 2024. The deadline for bidding on that event is September 2015 with a winner to be declared by the summer of 2017.