It moved to Lausanne from London in 1986 and is currently one of 16 Association of Summer Olympic International Federations (ASOIF) members based in the Olympic Capital, which is also home to the International Olympic Committee.

Following President Husain Al-Musallam's visit to Hungary to meet with Government officials, including Foreign Affairs and Trade Minister Péter Szijjártó, it plans to join the International Judo Federation as the second ASOIF member based in Budapest.

A Memorandum of Understanding has been signed between the Hungarian Government and World Aquatics to promote further cooperation over the potential relocation, which requires Congressional approval from the global governing body.

Al-Musallam heaped praise on Budapest after it staged last year's World Championships at short notice, and underlined that World Aquatics views Hungary as a trusted partner

"Hungary has repeatedly proven itself to be a wonderful host for our sport and for our athletes," he said.

"World Aquatics remains sincerely grateful for this.

"I am excited to work with our friends in Budapest to see what further possibilities there may be here for World Aquatics."

Budapest has already been awarded the 2027 World Aquatics Championships, marking the third time it has held the event in 11 years following on from the 2017 and 2022 editions.

Fukuoka had originally been due to host the 2022 World Championships, but Budapest stepped in to host an additional edition at around four months' notice when the Japanese city was forced to delay until this year because of COVID-19 restrictions.

It also due to stage next year's World Aquatics Swimming Championships (25 metres).

The 5,000-capacity Duna Arena was constructed for the 2017 World Championships, joining the Alfréd Hajós National Swimming Stadium among Budapest's major aquatics venues.

The latter, a complex which can be enlarged to up hold up to 8,000 spectators, is named after Alfréd Hajós, the first modern Olympic swimming champion and Hungary's first Olympic gold medallist.

The timeframe for the relocation and potential location for the new headquarters is unclear at this stage, but insidethegames has sought clarity from World Aquatics.

Szijjártó stressed the importance of attracting World Aquatics to Hungary, and claimed its leaders want half of the new headquarters' staff to be Hungarian.

"It will of course be a huge recognition for Hungary if the global headquarters of the International Swimming Federation moves here to Budapest," Szijjártó was quoted by the Budapest Times.

Hungary's Deputy Minister and Parliamentary State Secretary at the Prime Minister's Office Balázs Fürjes stepped down as a World Aquatics Bureau member in February, but was replaced by Hungarian Swimming Association President and Moscow 1980 Olympic gold medallist Sándor Wladár.

World Aquatics rebranded from the International Swimming Federation and its FINA acronym last year.

Budapest is expected to pursue its ambition to host a future Summer edition of the Olympic and Paralympic Games.