The Millennium Stadium in Cardiff will host the Champions League final in 2017, UEFA has confirmed.
The executive committee of European football's governing body convened in Prague for a meeting which touched upon on a variety of subjects, including the appointment of club competition final venues in two years' time.
Cardiff has long been reported to be among the frontrunners for the 2017 Champions League final and the Millennium Stadium was confirmed as host by UEFA general secretary Gianni Infantino on Tuesday.
UEFA also announced that the Friends Arena, Stockholm, will host the 2017 Europa League final and the Philip II Arena, in Skopje, Macedonia, will stage the 2017 Super Cup.
Wales stars Gareth Bale and Aaron Ramsey were quick to welcome the Champions League final coup for Cardiff on their Twitter accounts.
Bale Tweeted: "I know how passionate Welsh football fans are so it's great the final is coming to my home city of Cardiff."
Ramsey is clearly hoping Arsenal make the 2017 showpiece final. He Tweeted: "The Millennium Stadium is a fantastic stadium. It'll be a brilliant occasion. I'd love to be part of it."
The 2017 men's Champions League final will be held on June 3.
Cardiff will also host the 2017 Women's Champions League final, which will be held at Cardiff City Stadium on June 1.
Football Association of Wales chief executive Jonathan Ford said: "Staging major football finals is one of the objectives contained within the FAW's Strategic Plan - we believe that staging both the 2017 UEFA Champions League Final and 2017 UEFA Women's Champions League Final will have a positive and long-lasting effect on Welsh football.
"Today's announcement is the culmination of two years' of hard work and I'd like to thank all those who've helped the FAW fulfil its ambition of staging a UEFA Champions League Final."
Football Association of Wales president Trefor Lloyd Hughes said: "The FAW is grateful to UEFA's Executive Committee for giving the FAW and Wales the opportunity to stage one of the world's biggest sporting events.
"Welsh football is certainly on the up and we look forward to working closely with UEFA and all of our stakeholders over the next two years to deliver two memorable finals."