ATR First - New Invitation Phase for Olympic Bids 'More Efficient'(ATR) IOC members tell ATR the new Olympic bidding procedure will keep more money in the banks of bid cities.2024 bid process gets underway with new Invitation Phase as IOC begins to implement Olympic Agenda 2020 ReformsThe International Olympic Committee (IOC) today launched the bid process for the Games of the XXXIII Olympiad in 2024 with an Invitation Phase.