Budapest will host the 2017 World Judo Championships, it was announced today.
The decision had been widely expected.
Last month the Hungarian Government agreed to underwrite the costs of the event, which paved the way for the city to stage the competition, and their bid also had the backing of Prime Minister Viktor Orbán.
The Hungarian capital was chosen ahead of China, Mongolia and Qatar and the announcement gives the country the chance to showcase their ability to stage a major sporting event, with a bid for the 2024 Olympic Games still potentially in the pipeline.
The projected cost of is estimated to be HUF2 billion (£5 million/$7.5 million/€6.4 million) and the Government will fund it out of the State Budget between 2015 and 2017 after the Hungarian Judo Federation (HJF) held talks with the country's Sports Minister István Simicskó.
"In 2017, the Judo World Championships will be organized for the first time in history in Budapest," International Judo Federation (IJF) President Marius Vizer said.
"I am convinced that Hungary will organize a successful World Championship, especially with the possibility of candidature for the 2024 Olympic Games and also given the successful history of judo in Hungary.
"I believe that this event will provide an excellent opportunity for the promotion of Judo in Hungary and for showcasing the performances of the best Hungarian judokas.
"At the same time, I hope that this event will have added value for the entire international Judo Community, giving us, the participants and the International Judo Federation, as organisation, satisfaction at all levels."
Budapest was considered a strong candidate following a successful Grand Prix last year, which came off the back of the 2013 European Championships, which was also praised.
Hungary staged a successful World Junior Championships in 2004 but being awarded the World Championships in 2017 represents a major coup for sport in the country.
"Hungarian judo and also Hungarian Sports have reached a milestone today with the signing of the contract between the International Judo Federation and the Hungarian Judo Association," HJF President László Tóth added.
"In my opinion, it is very important to hold international judo competitions in our country, because children and youth can meet with world class judoka and they may try to practice our sport.
"Hopefully, after 10-15 years, we will see them on the tatami of top international judo events and they might reach worldwide results."
Last year's event were staged in Chelyabinsk, when the spectators included Russian President Vladimir Putin, while this year's event is due to take place in Astana, Kazakhstan's capital.
The IJF do not hold a World Championships in an Olympic year.
Hungary has won a total of 23 medals, including two gold, at the World Championships since it was first held in Tokyo in 1956.
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March 2015: Budapest confident of being awarded 2017 World Judo Championships
June 2014: Budapest in line to host 2017 World Judo Championships after successful Grand Prix