Would a person going FTM (or visa versa) be allowed to participate in any athletic sports events on an international scale?

With the Olympics approaching again and the ever widening reach of the GLBT society, if a person was going FTM but was 65% female, and 35% male would that person be allowed to compete? They can’t really go, or be sent to the Special Olympics because they are not disabled. If they wanted to have their Olympic experience could they? Would it depend on the sport? If it were a sport like rowing, mountain bike racing, or single pursuit (cycling), how do you think the majority of females who are 100% female feel about it? Do you think they would say because there is still about 30 some odd percent of the male left that it make for an unfair advantage? Eventually, it is an issue that will have to be address the way things are going, so how is it going to be made to work?