The governing body of the International Association of Athletics Federations (IAAF) approved the recommendation that Budapest be declared the preferred European city to host the IAAF World Championships in 2023 at a meeting in Buenos Aires on Friday.
"The process now is for a full technical, financial and risk evaluation to be undertaken with the results presented to the Council in December. At that stage a final decision will be made," the IAAF was cited as saying by Hungarian news agency MTI.
The IAAF World Championships, a biennial competition, was hosted by London in 2017. It will take place in Doha, Qatar, next year, and in Eugene, Oregon, in the United States, in 2021.