Instituto Cervantes, the largest organisation in the world responsible for promoting the study and teaching of Spanish and Hispanic-American language and culture, has committed to supporting the Madrid 2016 Olympic bid.

Instituto Cervantes will promote the bid, which hopes to be awarded the Olympics when a decision is made by the International Olympic Committee in October, across the whole of its network of 73 centres across five continents. No money will change hands, but the exposure the bid will receive is unquestionably worth a seven-figure sum.

"I am delighted that the Instituto Cervantes, with its huge influence throughout the world, will do all they can in the final months to promote our bid," said Mercedes Coghen, Madrid 2016 chief executive. "We all dream of holding an Olympic and Paralympic Games which will capture the passion of the Spanish culture."