United Kingdom (UK) Sport has promised to provide financial support to athletics to stage Diamond League meet at the London Stadium next month.
A grant up to 150,000 pounds ($188,000), which comes from the National Lottery major event funding, will be given to cover the projected deficit in hosting the July 23 event.
"We want the UK to remain on the Diamond League calendar and for the event to become financially sustainable as quickly as possible," UK Sport chief executive Sally Munday said in a statement as reported by Reuters.
"We are looking forward to working collaboratively with our colleagues at UK Athletics in the build up to the event and beyond to try to ensure this happens," he added.
The London Stadium last hosted a Diamond League meet in 2019.
The 2020 event was cancelled due to the COVID-19 pandemic and the following year it was moved away from the city due to the costs of repurposing the venue. The Alexander Stadium in Birmingham hosted last year's edition.
In December, UK Athletics announced a loss of 1.8 million pounds for the year ended March 31, 2022.
"We're grateful to UK Sport for this award, and look forward to working with them around the long-term sustainability of athletics events staged in the UK," UK Athletics chief executive Jack Buckner said.