Nassau (Bahamas), Sep 11 (IANS/CMC) The Bahamas government plans to spend about $3.5 million to host the International Association of Athletics Federations (IAAF) World Relays in 2014 and 2015.
Prime Minister Perry Christie made the announcement during a press conference Tuesday, reports CMC.
"The Government of the Bahamas is looking to underwrite the costs," said Christie.
"We are obviously hopeful that given the nature of these international sporting events will be a return to the country in every which way because we are very much committed to developing The Bahamas as a world sports tourism authority and destination."
The World Relays will bring together approximately 700 athletes including those who competed and won medals in the sprint and middle distance events at the 2012 Olympic Games in London and the 2013 IAAF World Games in Moscow.
Some 40 countries and 300 team officials will take part in the event.
"I hope that we as an island nation, that we ensure that the young people of the Bahamas are able to benefit from this exercise that at the end of the day," said Christie.
"We want to never give up on the commitment to develop athletes and sports in the country."
The deal for the Bahamas to host the IAAF World Relays in 2014 and 2015 was sealed at the recent 2013 IAAF World Championships in Moscow.
Hosting such an event will require approximately 500 volunteers, 150 organising committee members and a full-time staff of 25.
The relay races will include men and women in the 4x100m, 4x200m, 4x400m, 4x800m, 4x1500m, with qualifying rounds for the 4x100m, 4x200m, and 4x400m.