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The Commonwealth Games are set to return to Glasgow in 2026.
Final plans are still to be agreed with the Commonwealth Games Federation (CGF) but organisers have gained backing from the Scottish government to rescue the event.
The deal comes following talks between Scotland's Health Secretary Neil Gray and Commonwealth Games Australia (CGA) on Monday.
The sporting event was due to be held in the Australian state of Victoria but it withdrew last year due to rising costs.
Glasgow last hosted the games in 2014. The opening ceremony took place at Celtic Park, while the closing festivities lit up Hampden Park.
The 2026 event is expected to be scaled down with fewer sports, but athletics and swimming will remain.
Commonwealth Games Scotland (CGS) said it has developed a concept that "can be delivered within two years and for a budget of £115m, with no ask of public funds".
Mr Gray said the Scottish government has written to CGS to confirm its support.
No public funding will be required for the delivery of the event and the Scottish government will not provide any financial underwriting.
CGS will now decide whether it wishes to proceed with its proposal before being considered by the CGF.
Mr Gray said: "The fact that Glasgow was asked to step in and host the 2026 games is testament to Glasgow and Scotland's fantastic reputation for hosting international events.
"That said, we have been clear that our financial resources are limited."
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Mr Gray added the government had conducted a thorough assessment of the proposal, with support from CGS, CGF, CGA, Glasgow City Council, and the UK government.
He added: "In 2026 all eyes will once again be on Glasgow, and I have every confidence that Scotland's largest city will provide a fitting platform for some of the world's top athletes."
Ian Reid CBE, chair of CGS, said the organisation will be "working hard over the coming days to bring the final pieces of the puzzle together".
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In a statement, the CGF said it was delighted CGS had received Scottish government support.
CGF president Chris Jenkins said: "We have been working with CGS and the Scottish government for several months and are delighted to hear CGS has received confirmation of support from the government to enable them to progress with their proposal to host the games in 2026.
"At the heart of our discussions has been an investment of £100m from the CGF and the commitment that Glasgow 2026 would not require financial underwriting from either the Scottish or UK governments."
Mr Jenkins confirmed that CGA had contributed around £2.3m to "further enhance the games delivery".
He added: "We believe Glasgow 2026 will be an important first step in our commitment to reset and reframe the Commonwealth Games as a co-created, sustainable model that minimises costs, inspires athletes, and excites hosts and international federations.
"We will work closely with CGS to positively conclude final stakeholder discussions with the aim of formally announcing Glasgow as the host city for 2026 as soon as possible."