Wembley Stadium in London has been selected by UEFA, European football's governing body, to host the 2011 Champions League final.

The stadium will stage the event for the first time since 1992, and was chosen ahead of two German rivals - the Allianz Arena in Munich and the Olympiastadion in Berlin. However, the decision means that Arsenal Football Club's bid to host the 2011 UEFA Cup final at its Emirates Stadium is no longer an option as UEFA rules state that the same country cannot stage both events in the same year.

Lord Triesman, chair of the Football Association, said: "This is fantastic news for London and the UK and is acknowledgement of Wembley's ranking alongside the very best football stadiums in the world. "Wembley is a stadium for the big games and has a unique history that is sure to inspire Europe's finest players."

London mayor Boris Johnson added: "There is a huge sense of excitement and passion in London for sports and indeed for football. Wembley is a suitably dramatic and superb backdrop for the event."