Kelly Whiteside of USA Today explains that only one of three sports between wrestling, squash and baseball/softball can be added to the Games:
The committee has dropped wushu, wakeboarding, roller sports, karate and sport climbing from consideration, according to BBC Sport.
As noted in the committee's news release, the Olympic Program Commission looks back on each and every sport after the conclusion of the Olympics to ensure that each sport is "relevant to fans of all generations."
IOC President Jacques Rogge had the following response to the committee's announcement, via Olympic.org:
The Executive Board received excellent presentations today from eight International Federations. It was never going to be an easy decision but I feel my colleagues on the Board made a good decision in selecting baseball/softball, squash and wrestling to be put forward in Buenos Aires. I wish the three shortlisted sports the best of luck in the run-up to the vote in September and would like to thank the other sports for their hard work and dedication.
Wrestling supporters were outraged over the committee's decision to drop the sport from the Olympics back in February, but they have since lobbied for the IOC to bring it back. One of the oldest forms of sport known to man, it's difficult to argue that wrestling doesn't deserve a place in the Summer Games.
Baseball and softball, two tremendously popular sports around the globe, were dropped from the Olympics following the 2008 Summer Games. The IOC made the decision to eliminate baseball and softball back in 2005.
Meanwhile, squash, which Forbes deemed the healthiest sport to play, looks to be the underdog in this three-sport race as it bids for a spot in the Olympics for the third time.
There are three cities still alive to potentially host the 2020 Olympics. The IOC will elect either Istanbul, Madrid or Tokyo as host this coming September.
Follow Bleacher Report Featured Columnist Patrick Clarke on Twitter.