The city says it is going to spend $1.7 million as part of hosting the 2021 Grey Cup celebration.

In a news release issued Friday morning, officials said the money would fund things like "stadium readiness costs," contract staff and community programming.

"I am absolutely delighted the CFL has named Hamilton as host city of the 2021 Grey Cup game and festival," said Mayor Fred Eisenberger in a statement. "Hamilton is an internationally recognized entertainment hub, hosting numerous sporting, film and music events and is the ideal location for this iconic championship event.

"We're ready to welcome fans of Canadian Football to our great city and further prove Hamilton is one of the most dynamic cities in Canada."

The CFL's biggest game hasn't been held in the city since 1996.

That 1996 clash between the Toronto Argonauts and Edmonton Eskimos went down in league history as the legendary Snow Bowl, as the field was blanketed in snow.

Tiger-Cats fans celebrate the announcement Hamilton will host the 2021 Grey Cup. (Dan Taekema/CBC)

The long absence of the Grey Cup in Hamilton can in part be attributed to a multi-million dollar lawsuit brought against the city by the Tiger-Cats, because the new stadium, Tim Hortons Field, opened months later than expected.

A settlement was reached earlier this year and, with that behind them, the team wasted no time in tossing in a bid.

Eisenberger said Thursday evening, after the CFL made the announcement, that the Grey Cup will be a chance to show off what the city has to offer and will bring an estimated economic impact of between $30 and $35 million to Hamilton.