The Los Angeles Lakers forward is one of Spain’s most recognisable sports stars and was the flag bearer for his nation during the London 2012 opening ceremony.
Gasol, a two-time Olympic silver-medalist will address the International Olympic Committee during Madrid’s final presentation in Buenos Aires next month.
Madrid is vying with Tokyo and Istanbul for the 2020 Summer Games, and the IOC will deliver its final decision in Argentina on September 7.
In a statement Gasol said that the Olympics are “more than sport” and Madrid needs the boost the games would provide.
Spain, as a country has been in recession for the best part of four years and so far has a 26.3 percent unemployment rate.
Gasol wrote an open letter to the Spanish Basketball Federation confirming his absence from Eurobasket 2013, which starts next Tuesday due to injury concerns. He is currently recovering from ultrasonic treatment on his knees.
Information via the Associated Press.