The European Championship 2020 semifinals and finals will be staged at Wembley Stadium after England won hosting rights, UEFA announced on Friday.

England was awarded the hosting rights after the German Football Association (DFB) decided to withdraw from the bidding. Sources said that DFB decided to cancel their bid after reaching an agreement with England, who vowed to support Germany's bid to host Euro 2024.

England last hosted the European Championship in 1996 at the old Wembley, which has been renovated into a 90,000-seater stadium. During Euro 1996, England reached the semifinals where they lost to Germany, who eventually won the tournament.

"We are delighted," England Football Association chairman Greg Dyke said of winning the hosting rights via ESPN FC. "It's nice to win one. Wembley is a great stadium and we are delighted to be holding the finals of this tournament. Wembley has been completely rebuilt since 1996 and it is a wonderful stadium."

England finally won a bid to host a major event after failing to win the hosting rights for the 2006 and 2018 FIFA World Cup.

England coach Roy Hodgson was also delighted after the announcement and he believes the Three Lions will have a good chance of reaching at least the semifinals of the tournament. Hodgson also mentioned England's success during the 1966 World Cup, which was also staged at Wembley.

"If we look backed historically in '66 it went very well for us when we hosted a tournament and in 1996 I thought we were very unlucky to lose the semifinal on penalties," Hodgson said via Sporting News. "Young players of today have got to be thinking this is a great opportunity for us to not only be a part of a wonderful tournament but maybe there at the end when the prizes are being dished out."

Aside from England, 12 other cities will host the event -- Munich, Rome, Saint Petersburg, Baku, Amsterdam, Bilbao, Brussels, Bucharest, Budapest, Copenhagen, Dublin and Glasgow -- as part of the 60th anniversary of the first European Championships.

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