The city of Stockholm won't bid for the 2026 Winter Olympics.

Stockholm Mayor Karin Wanngard, the city official in charge of finances, said Wednesday that the decision was made because the International Olympic Committee will not immediately be able to report how big the financial contribution to the host city will be.

Not enough time for analysis

She said the figures "will arrive at the earliest in November."

"This means that time will be too short to get enough analysis for the issues raised by several actors," said the Swedish lawmaker, whose Social Democratic Party had been supportive of hosting the event.

"We Social Democrats have always thought that the Olympic Games are important for Stockholm's growth and development," Wanngard said in a statement, adding there was little backing for the event. "Unfortunately, we are alone to have this position about the Olympic Games."

Decision supported

Swedish Sports Confederation chairman Bjorn Eriksson said he and his organization "fully respect the decision as we also believe in a realistic budget and a sustainable economy."

Sports Minister Gabriel Wikstrom also supported the decision, adding that the Social Democratic-led government was "ready to handle requests for financial guarantees."

"We have also been clear that it is Stockholm's city that must make its decision first," he told Sweden news agency TT.

The Swedish capital, which hosted the 1912 Summer Olympics, has never staged the Winter Games. The cities of Ostersund, Falun and Goteborg all have mounted failed winter bids.

Three years ago, Stockholm pulled its bid to stage the 2022 Winter Olympics for financial reasons.