Scrapping Rome Oly bid sad for Italy: PM

Italian Prime Minister Matteo Renzi says it would be sad for his country if Rome pulled out of the bidding for 2024 Olympic Games.

Italian Prime Minister Matteo Renzi has reacted with disappointment to Rome potentially cancelling a bid to host the Olympic Games in 2024.

"That is sad for Rome and sad for Italy," Renzi was quoted by media reports as saying late Thursday, adding "you cannot say no because you're scared of the future".

Italian media had previously reported new Rome mayor Virginia Raggi will declare a definitive no to bidding in the next week.

Raggi was elected in June having opposed the bid backed by former mayor Ignazio Marino.

Rome last hosted the Games in 1960 but Raggi's Five Star Movement party object to the bid due to concerns over costs.

Italy withdrew a bid to host the 2020 Games, which were won by Tokyo, because of the financial crisis.

Along with Rome, Los Angeles, Budapest and Paris are in the race for the 2024 edition with the decision being made by the International Olympic Committee in September next year.