A new 60,000-capacity stadium, a velodrome and a tennis complex will be built if Budapest wins its bid to host the 2024 Olympic Games.

The City Council for the Hungarian capital has approved the list of venues, which include seven cluster and five stand-alone arenas within the city.

Most of the Games events have been earmarked for the new athletics stadium – which will be scaled down to 15,000 after the event – while the tennis complex will house a 10,000-seater main court for the higher profile matches.

The football tournament finals will take place at the Ferenc Puskas Stadium, which is currently in the middle of a renovation project to host matches for the 2020 European Football Championships – the first edition of the tournament which will travel around the continent.

Lake Balaton, which is 84 miles south of Budapest, will hold the sailing and open water swimming, while the golf competition is being lined up for a venue near the lake. Rowing, equestrian and preliminaries of basketball, handball and football will take place in other parts of the country.

The announcement coincided with the rejection of another call for a public referendum on the bid. Budapest is competing against Los Angeles, Rome and Paris to host the Games.

According to an execution study by PricewaterhouseCoopers (PwC), Budapest has set aside a Games budget of one trillion forints (US$3.4bn, €3.2bn, £2.3bn), with 300 billion forints being recouped by selling Olympic assets following the event.

A further two trillion forints (US$6.7bn, €6.4bn, £4.5bn) will be spent on infrastructure, making its total budget comparable to the US$4.7bn (£3.1bn, €4.5bn) budget for a Los Angeles Games, and the operating budgets of €6bn (US$6.3bn, £4.2bn) set aside by both Rome and Paris respectively.