The championship will involve close to 400 competitors from around 70 countries, Coe said. The goal of the event is to provide a top-tier contest for athletics in years when there is no World Athletics Championship, he added.
The decision to make Budapest the inaugural host city was taken because the capital hosted the "most successful World Athletics Championships in history" in 2023, he said.
The World Athletics Ultimate Championship, with a USD 10 million prize pot, will be held on September 11-13, 2026.
The World Athletics Ultimate Championship will take place every two years.
The 2023 World Athletics Championships, which Budapest hosted in August, drew 170,000 visitors.
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