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The UK government has confirmed its support for London's bid to host the 2029 World Athletics Championships.
If successful, the event would return to London Stadium, which last hosted the event in 2017.
Ministers are also backing a UK bid for the World Para Athletics Championships in 2029, saying they are "committed to taking [it] beyond the capital with a host city to be confirmed in due course".
The government said that "subject to funding from partners being confirmed, [it] has agreed to provide significant funding for both bids".
BBC Sport has been told that about £35m is expected to come from central government, with £10m of public funding from the London Mayor's office.
The news is a major boost to the sport, with London Stadium hosting a sold-out Diamond League meeting in front of 60,000 spectators on Saturday.
In June more than 100 of Britain's most renowned athletes wrote an open letter to Prime Minister Sir Keir Starmer urging the government to back London's bid to host the World Athletics Championships.
It came after concerns that a bid could be at risk, with uncertainty over the estimated £45m that government was being asked for amid spending cuts, despite claims that the event would deliver £400m of economic impact.
The championships were not referenced when ministers unveiled half a billion pounds of investment into sporting events in a spending review last month.
However, talks have been taking place with UK Athletics and UK Sport, and Starmer said he is "delighted to support the bid".
"Bringing the World Athletics Championships to the UK would be a moment of great national pride, building on our global reputation for hosting memorable sporting events that showcase the very best talent," he said.
"Hosting these championships would not only unlock opportunities for UK athletes, but it would inspire the next generation to get involved and pursue their ambitions.
"The event would provide a boost for UK businesses and support jobs as well as bring our communities together."
Jack Buckner, CEO of UK Athletics, said: "After superb medal hauls over the last few years on the world, Olympic and Paralympic stage, athletics in the UK is on an upward trajectory, with new partners, record participation and sold-out stadia. This support will drive the sport on to new heights."
Josh Kerr, 1500m world champion and double Olympic medallist, said: "London 2017 was my first senior World Championships and it lit a fire in me.
"I'm proud to support the bid and hope we get the chance to show the world what we can do on home soil."
Steve Cram, former British athlete and BBC Sport commentator
I think it would be huge and I'm so pleased that this has happened. There has been a little bit of angst as to whether the government were going to back the bid for 2029 and the clock was ticking on that, so it's great that they've decided to do that.
The idea of the London Stadium was that it gets used for major championships. We can't use it every year for a Champs but it's been 12 years since we had a Championships back here. It would be phenomenal.
Athletics needs venues where you put 60,000 people in for each session and we know London can do that so we've got a great chance with the government backing.
It's kind of due to come back to Europe so London - which is very accessible for the whole of Europe - has got a good chance of winning it.
For both the World Athletics Championships and the Para Championships, it's a great opportunity. Government backing gives us a great chance of delivering it so fingers crossed.
