A group of companies from Toronto's entertainment district has stepped forward to help ensure than city residents will have a free ride home on the TTC this New Year's Eve.

The companies have donated a total of $60,000 to the effort.

""After a night of celebration, it is our aim to help ensure our patrons arrive home safely," said Nick Di Donato, president and CEO of the Liberty Entertainment Group in a statement.

"Our customers well being is always our number one priority. This initiative will make their trip home easy and safe, by providing them with complimentary TTC service. Our hope is that this initiative will continue for many future New Year's Eve celebrations. "

The Toronto Transit Commission said it requires $85,000 to make the free service happen, but chair Adam Giambrone said they were "pretty optimistic we'll be able to offer the same level of free New Year's service as last year."

CTV Toronto originally reported the free ride might be in jeopardy after the 2007 sponsor, Capital One, dropped out this year.

About 100,000 people use the TTC between midnight and 4 a.m. on Jan. 1.

"Covering it certainly got the word out," Giambrone said. "It was never our intention to do that specifically but sometimes TV can be very helpful in those regards."

The Liberty Entertainment Group is spearheading the effort, along with Molson Canada. The owners of the Guvernment nightclub complex and the Firkin group are also contributing.

Other companies may yet come forward.

MADD Canada is among those who hopes the program goes ahead this year.

Carolyn Swinson lost her father and eldest son to drunk drivers, and said riding transit on New Year's Eve is important.

"It gives people a great opportunity in the city to go out and know they can get home safely," she said.

An official announcement on whether the program will go ahead will come at the TTC meeting on Dec. 17.

With a report from CTV Toronto's Naomi Parness