Photo of Taylor Swift at 2016 Grammy Awards, by Frederick M. Brown/Getty/Recording Academy

Exactly a week before the 2017 Grammy Awards nominations are announced, the Recording Academy is planning a return to New York City in 2018.

The New York Times first reported Tuesday the city has made a massive big to attract the trophy show. If all goes as planned, it would mark the Grammys' first broadcast from the Big Apple since 2003.

The 2018 event will also be a special one, as it will be 60th annual ceremony. But Los Angeles—which has hosted the Grammys for the last 13 years—has a number of advantages, including the Staples Center, which was designed with the awards show in mind.

Instead, the 2018 show would take place at Madison Square Garden, which would cost millions more. But business leaders and brands, such as adidas, have already offered to help make up the difference.

An official announcement is not expected until next month, but a spokesperson for the Academy did acknowledge there have been ongoing "extensive discussions to return the Grammy Awards to N.Y.C." A spokesperson for New York mayor Bill de Blasio added: "We’re confident New York City is the rightful home for the Grammys' 60th anniversary."

While it's still very early, The Weeknd, Bruno Mars and Lady Gaga (whose new albums all arrived after the Sept. 30 cutoff for 2017) will likely be in contention for the 2018 Grammys, as might Taylor Swift, who will almost certainly release new music between now and next September.

As we previously reported, James Corden will debut as host of the Grammys next year. The 2017 ceremony is set for Feb. 12, airing live at 8 p.m. EST on CBS.