Spain hosted EuroBasket 2007 and now they'll stage another prestigious event after learning on Saturday the 2014 FIBA World Championship would be held in the country.

In a hotly contested race with Italy and China, Spain prevailed after a vote by the FIBA Central Board in Geneva.

The Chinese were eliminated in the first round of voting and in the second round, Spain received 11 votes to Italy's eight.

Spanish Basketball Federation president Jose Luis Saez paid tribute to the federations of Italy and China.

"They put forward fantastic projects that were viable in amazing countries," Saez said.

"Of course, there could only be one winner. It was us this time. But any of the countries could have done a fantastic job. I want to thank them for their competition, but above all, we became friends. We shouldn't forget what they have done. Let us continue to work together. This teamwork is worth a lot."

FIBA revealed in a statement that upon the suggestion of the FIBA Central Board, Board members Saez (Spain) and Mr Yu Zaiqing (China) renounced their rights to vote when their respective countries were involved.

Granada, Seville and Madrid - all cities that hosted EuroBasket 2007 games - will also stage games at the FIBA World Championship.

FIBA Secretary General and IOC member Patrick Baumann said of Spain: "Your bid is a promise to further develop basketball in your country and the world.

"This is a great moment for FIBA and the entire membership of our organization.

"Our vision is clear. We want to move on, to have a unique experience for everyone."

Nine countries initially wanted to stage the 2014 FIBA World Championship but only China, Italy and Spain stayed in the race.

The 2010 FIBA World Championship will be held in Turkey next year.