Di Montezemolo’s comments follow a website being set-up last week by the Italian Radicals Political Party, accompanied by a dossier entitled "Roma 2024: A very risky bet", which called for a public ballot.

Rome 2024 deputy chairman Luca Pancalli has claimed, however, that they are not worried about calls for a referendum as they are already canvassing local opinion.

insidethegames understands that having signatures from one per cent of the city's residents, around 30,000 people, will be enough to force a referendum.

The issue of bid cities holding referendums on whether they should attempt to stage the Games has been a hot topic in recent months after Hamburg’s residents voted down its potential bid to stage the event in November.

A similar ballot could be held in Budapest as calls for a referendum are gathering pace in Hungary following reports suggesting that a public vote will be held if an opposition initiative attracts 140,000 signatures.

“The government has expressed maximum support, so we don't see the necessity,” Di Montezemolo, the former chairman of  Ferrari, said.

“If someone wants to make publicity in an electoral campaign, let them do it.

“But we're accustomed to dealing with institutions.

“I don't see the necessity for a referendum right now.”

Di Montezemolo, a high-ranking official in the Organising Committee when Italy hosted the 1990 FIFA World Cup, also hopes Rome 2024’s candidacy will give the city a chance to clean up its act in the wake of the beginning of a major mafia trial.

It comes following accusations that a series of criminals in the city scammed millions of euros from city hall contracts for many years.

The Bid Committee chief also estimated the cost of Rome bidding for the Olympic and Paralympic Games at around €24.9 million (£18.8 million/$27 million).

This represents a doubling of the original estimate of €10 million (£7.5 million/$11 million).

Despite the apparent hike in budget, Di Montezemolo insists this is "significantly lower" than both Los Angeles and Paris and stressed the money will likely come from the private sector as well as public sources such as the Italian Olympic Committee and Italian Government.

“If what happened a year and [a few] months ago had come in the next one or two years it would have caused big problems,” he said.

“I think this is important precisely to clear the ground and envisage the Rome of tomorrow.”

Budapest, Los Angeles and Paris are the other cities in the running for the 2024 Olympics and Paralympics.

The International Olympic Committee is due to elect the  host city at its Session in Lima in September 2017.