MONACO — The 2027 track and field world championships have been awarded to Beijing.

The World Athletics Council reached the decision Wednesday to bring the meet back to China after the country hosted the event in 2015. The decision comes on the heels of the Italian track federation announcing earlier in the day that it withdrew its candidacy to stage the 2027 worlds in Rome after the government refused to guarantee the $92 million needed to host the event.

China is also hosting the world indoor championships next year in Nanjing. The country hosted the 2008 Summer Olympics and the 2022 Winter Games in Beijing.

“This poses a massive opportunity to grow our sport and fan base in one of the biggest commercial markets in the world,” World Athletics president Sebastian Coe said in a statement.

The 2025 world championships will be held in Tokyo. Last summer, track's big event was staged in Budapest, Hungary, and the summer before in Eugene, Oregon.

“With the announcement of China as our next host," Coe said, "our last four World Athletics Championships have now been awarded to the world’s four largest economies; the USA (Oregon), the EU (Budapest), Japan (Tokyo) and China (Beijing).”

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