WWE's Money in the Bank will take place in London in July.

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World Wrestling Entertainment (WWE) confirmed Thursday that the annual pay-per-view event will be held July 1 at The O2 in London.

This year's Money in the Bank will mark the first WWE major live event to take place in London since 2002.

"The O2 is one of the world's premiere venues and the perfect home for Money in the Bank," WWE EVP of talent Dan Ventrelle said. "We are excited to bring one of our 'Big 5' events to the UK and look forward to welcoming the WWE Universe to London on July 1."

Money in the Bank features WWE's biggest Superstars as they compete in men and women's ladder matches. Winners receive a Money in the Bank briefcase, which contains a contract for a championship match that is able to be redeemed within the next year.

"We are honored to be hosting the first ever Money in the Bank event taking place in the UK here at The O2," The O2 senior programming director Christian D'Acui±a said. "We're looking forward to welcoming back WWE fans to The O2 this summer for an unforgettable night with some of WWE's biggest Superstars."

WWE appears to be expanding in the United Kingdom and beyond. The company held its Clash in the Castle pay-per-view event in Manchester, U.K., in September.