The news brings to an end concern that the bid was close to collapse due to the financial and economic problems in Spain. At the World Championships in September, the UCI granted the Spanish bid a 30 day period in order to meet certain contractual commitments. Last month the the regional council stepped in to guarantee funding by the mid-October deadline imposed by cycling's governing body.
The UCI had threatened to withdraw its support for the Spanish bid unless contractual agreements were met, however the Castilla y León local government has added its endorsement and by October 31 will have paid one million euros and guaranteed the remaining four million.
“I am delighted to confirm that the Ponferrada organisers have responded quickly and efficiently to our request, providing us with the financial and organisational guarantees that we required,” UCI President Mr Pat McQuaid said in a press release on Thursday.
“We can now look forward with confidence to the 2014 UCI Road World Championships in one of our traditional cycling nations.”
However the UCI made clear in the press release that "this confirmation is on the condition that remaining guarantees are forthcoming."
The 2014 UCI Road World Championships will be held from September 20th to 28th. The 2013 championship will be held in Florence, Italy from September 22nd to 29th.
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