Elite women's international squash will be staged in Madrid later this year when the Spanish capital hosts the 2007 Women's World Open Squash Championship.

The historic agreement to stage the biggest-ever event in women's squash - boasting a cash prize-fund of more than $100,000 - has been reached between the World Squash Federation (WSF) and Madrid City Council.

"This is excellent news for women's squash," said WSF President Jahangir Khan.  "The Madrid City Council, and its various partners, clearly plan to deliver the most spectacular Women's World Open of all time. 

"Madrid is renowned for hosting top world class sporting events.  I am delighted that we will now be able to stage one of the biggest championships on our international calendar in this vibrant European city."

The 2007 Women's World Open will be staged in partnership between Madrid City Council; the Spanish Squash Federation; the WSF; and the Women's International Squash Players' Association (WISPA).  Madrid 16, the organisation lobbying to host the 2016 Olympic Games, is also supporting the event.

Miguel de la Villa Polo, Sports Director Madrid City Council, said:  "The city of Madrid receives the WSF with its arms wide open and offers all its support and assistance.  We are very pleased to be hosting the Women's World Open and look forward to working closely with the WSF and its partners to make it the biggest and best event ever."

For many years in the 1990s, Madrid hosted the men's and women's Spanish Open - the most recent women's event being in March 1992.  The last time a World Squash Championship was held in Spain was in September 1994 when the Men's World Open was staged in Barcelona.