LONDON - The snooker World Championship will stay in Sheffield's Crucible Theater until 2017, World Snooker announced Sunday.

The tournament, the richest and most prestigious in snooker, was first staged at the Crucible in 1977 so 2017 will mark its 40th anniversary in Sheffield.

Barry Hearn, Chairman of World Snooker, said: "Snooker fans and players alike will be thrilled to hear this news as Sheffield and the Crucible are such an integral part of the history of the World Championship. Many thousands of people make snooker's greatest pilgrimage each year to witness the intense and magical ambience that the Crucible generates."

The event is worth over five million pounds to the city based on a combination of direct economic impact and extensive media profile in the UK, Europe and the Far East, with a total audience of 285 million viewers.

World Snooker said that Sheffield has fought off competition from a host of major international cities looking to host the event. But it failed to mention which cities had expressed interest to play host.