Turkey withdraws bid to host 2023 Basketball World Cup

Turkey has withdrawn from the running to host the 2023 FIBA Men's Basketball World Cup, the Turkish Basketball Federation (TBF) announced late Tuesday.

In a written statement, TBF said it has been decided that the budget for Turkey's candidacy would now "be spent on developing clubs, establishing basketball development centers and spreading the sport nationwide".

Reminding that Turkey has submitted its bid to host the 2023 FIBA World Cup on Aug. 31, the TBF said the country recently hosted several major events such as the 2001 European Basketball Championship, the 2005 Women's European Basketball Championship, the 2010 FIBA Men's World Cup and the 2014 FIBA Women's World Cup.

The Turkish national basketball team managed to claim a silver medal in the 2001 European Basketball Championship and in the 2010 FIBA World Cup which were both hosted in Istanbul.