The Latin Grammys will take place in Spain in 2023, likely in the Southern city of Sevilla, according to sources.

In a press conference between the board of Andalucía and the Latin Academy of Recording Arts and Sciences, Andalucía board president Juanma Moreno said the two entities had a “three year sponsorship deal” that included hosting the Latin Grammys and “two major concerts hosted by the Academy in 2023, and another major concert in 2024 and in 2025.”

The location for all events, said Moreno, would be announced “soon, once the Academy finalizes all details.”

“We are considering Sevilla to celebrate the 24th Annual Latin GRAMMY Awards this November, but we are still working through the logistics with our partners TelevisaUnivision. We will share additional details about the date and location of the next Latin GRAMMYs soon,” said Latin Academy Manuel Abud in an exclusive statement provided to Billboard.

Sources confirm the awards will take place in Spain and a formal announcement will be made soon. Since their inception in 2000, the Latin Grammys have always taken place in the United States, mostly in Las Vegas, although the award has also been held in New York and Miami. Rumors about the Academy taking the awards out the U.S. have swirled before, but this is the first time concrete plans have been made to host the awards elsewhere.

Although the Latin Recording Academy and the Latin Grammys were created in the U.S. as a sister organization to the Academy, its membership and its ethos have always been international representing recordings made in Spanish and Portuguese around the world.

While details of the negotiations to move the award show out of the United States were not provided, economic incentives clearly had a role.

Moreno estimated the economic impact of having the Grammys and the events in the region would be “in the nieghborhood of 500 million Euros.”

The Latin Grammys will continue to be broadcast on the Univision network.