Believing that international sports created goodwill, however, Perón hosted the 1950 World Basketball Championship and the 1951 Pan American Games, both of which Argentine athletes won resoundingly. He also sponsored numerous notable athletes, including the five-time Formula 1 world champion, Juan Manuel Fangio, who, without this funding, would have most likely never competed in Europe. Perón's bid to host the 1956 Summer Olympics in Buenos Aires was defeated by the International Olympic Committee by one vote.