The idea of holding a full Ironman triathlon in Boulder got a little closer to reality late Tuesday night when the City Council gave it a nod of approval.

The City Manager's Office had sought the council's support to enter into final negotiations with race organizers.

Organizers from World Triathlon Corp., which runs the Ironman competitions, had approached the city to see whether there would be support for a multi-year contract to host an Ironman event based around the Boulder Reservoir and downtown Boulder.

The agreement would most likely be for a race in early August. The multi-year agreement would provide for races to be held through 2018.

City officials estimate the Ironman would cost the city about $71,000 a year.

Ironman already holds three shorter events in Boulder, collectively known as the Boulder Tri Series. The proposal is for a full Ironman, with a 2.4-mile swim, a 112-mile bicycle ride and a marathon.

The race would start with the swimming portion at 7 a.m., and competitors would have to finish the marathon by midnight.

The initial proposal calls for the swimming portion to take place at the reservoir, the bicycle race in Boulder, Weld and Larimer counties with a finish at Boulder High School and the marathon primarily along the Boulder Creek Path with a downtown finish.

City officials and race organizers hope to develop a final agreement to be approved by the council by September.