The executive committee could not accept the Venezuelan Federation's original bid to host the 2007 FIBA Americas Championship.
The event has now become very high profile after the US and Argentina teams failed to earn automatic qualification for the 2008 Olympics when neither won the gold medal at the World Championships in Japan last month.
FIBA Americas said on its website that "government support, economic power, sport infrastructure, TV and information systems, good hotel chains and transportation," are key in awarding the bid.
