The City of Mandurah voted unanimously in favour of starting negotiations to host an International Triathlon Long Course Weekend in the city, starting in 2017.
The council was presented with two different options, a one-day-long National Triathlon and a weekend-long International Triathlon.
Mandurah councillors voted to prioritise the weekend-long event, which would bring a direct economic benefit of $2,358,000 to the City and a bigger number of international athletes, compared to a $491,960 benefit by the single day triathlon.
They also approved to start negotiations for a three year agreement with Sport 3 Innovation and acknowledged the need to allocate $25,000 per anum towards the event.
The event village and registration area as well as the finish line would be located on the eastern foreshore, with the start line area being on Hall Park, the western foreshore or CBD.
It is expected 1,500 people would join the event on the first year, participating in a 3.8km swim, 180km ride and 42.2km run over three days.
Participation would increase in the two following editions, with 3,500 competitors expected by 2019.
Mandurah has successfully hosted triathlon competitions int he form of Ironman 70.3 since 2012.
However, Ironman 70.3 organiser USM ended its relationship with the City this year due to financial implications.