After the event in Alabama last year, more than 100 companies or individuals were still owed around $15.6 million (£12.1 million/€14.2 million).

Jefferson County contributed $4 million (£3.1 million/€3.6 million) to alleviate the debt, while the City of Birmingham put in an additional $5 million (£4 million/€4.5 million).

The first portion of a $5 million total it was allocated from a general fund by state legislature was recently acquired and used to satisfy "most" creditors".

The remaining parties can now can expect to receive their share soon.

"We've made final payments to close out our remaining balances to most of the remaining vendors and worked with the few large remaining vendors on an agreement to pay some now and make final payments in October when we receive the second half," Sellers said, as reported by Alabama Live.

Among creditors still owed are the Sheraton and Westin hotels, and the Birmingham Jefferson Convention Complex.

The trio are expecting to receive $1.4 million (£1.1 million/€1.2 million) between them.

"Our public and corporate partners stood together to ensure we were able to successfully close out the World Games 2022," Sellers said.

"Many thanks to each one of them - especially our Jefferson County Legislative delegation led by Senators Jabo Waggoner and Rodger Smitherman.

"The state's final support will allow us to honour all remaining obligations and close out with positive momentum for our next big event."

Despite the World Games resulting in a $14.1 million (£10.1 million/€12.8 million) shortfall, it is credited with helping Birmingham to secure hosting rights for next year's Transplant Games and the 2025 World Police and Fire Games.

"Even with the challenges that we faced, there were countless victories," Sellers said. 

"To the extent there were things that could've been done better, those are my responsibility as the leader of the team.

"We are all better for the journey.

"And our region is better prepared for the next big opportunity."