Birmingham is set to invest £778m to stage the 2022 Commonwealth Games, the Government has confirmed.
The funding will be split between central Government which will provide £594m and Birmingham City Council and its partners who will spend £184m.
The Government says the 11-day event will deliver 'significant benefits' for Birmingham, the West Midlands and the country as a whole.
More than a million tickets will be available for spectators and additional revenue will be raised from sponsorship, merchandising and the sale of broadcast rights.
Ian Ward, leader of Birmingham City Council, said: 'The level of investment coming into the city and the wider West Midlands as a result of our decision to successfully bid for the right to host the Commonwealth Games, is huge.
'The Games are undoubtedly a catalyst, bringing forward many regeneration and infrastructure schemes, so they are delivered much quicker that we could have done so otherwise.
'The event also gives us a golden opportunity to reposition the city and region on a global stage and bring citizens together.'