Inflation drives Toronto 2026 FIFA World Cup cost estimate up to $300 million
The estimated cost to taxpayers for Toronto to host several 2026 FIFA World Cup games has risen to about $300 million, or at least $60 million per expected game.
Toronto city staff says the estimate has increased by about $10 million due to “recent escalation in inflation rates.”
The cost of hosting the matches now approaches the net GDP benefit to the city, pegged at $307 million and 3,300 direct new jobs. Although, the federal and provincial governments are expected to pay two-thirds, or about $184 million of the cost.
Meanwhile, Toronto is expected to fork over $77.1 million, along with $24 million worth of services in kind. Staff say the city can pursue sponsorships and rights sales to recoup some of these costs.
When the City of Toronto initially expressed interest in hosting games back in 2018, the cost to taxpayers was estimated between $30 and $45 million.
The spending includes $15 million to upgrade sports fields at Sunnybrook and Centennial parks for guest team training purposes, and $25 million to increase capacity at BMO Field.
FIFA requires men’s world cup stadiums to hold a minimum of 45,000 fans, meaning BMO Field will need a significant expansion of at least 15,000 temporary seats.
The city will also be responsible for hosting a “FIFA FanFest” running the length of the 34-day tournament and beefing up area public transport services and security.
The city will hire nine employees in 2022 to begin planning and operations work for hosting the games.
Canada will host 10 of the 80 games in the expanded 48-team format tournament, with matches split between Toronto and Vancouver.
So far it is not clear how many of the games each of the Canadian host cities will get.
CTVNews.ca Top Stories
Widow looking for answers after Quebec man dies in Texas Ironman competition
The widow of a Quebec man who died competing in an Ironman competition is looking for answers.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
World seeing near breakdown of international law amid wars in Gaza and Ukraine, Amnesty says
The world is seeing a near breakdown of international law amid flagrant rule-breaking in Gaza and Ukraine, multiplying armed conflicts, the rise of authoritarianism and huge rights violations in Sudan, Ethiopia and Myanmar, Amnesty International warned Wednesday as it published its annual report.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
Amid concerns over 'collateral damage' Trudeau, Freeland defend capital gains tax change
Facing pushback from physicians and businesspeople over the coming increase to the capital gains inclusion rate, Prime Minister Justin Trudeau and his deputy Chrystia Freeland are standing by their plan to target Canada's highest earners.
U.S. Senate passes bill forcing TikTok's parent company to sell or face ban, sends to Biden for signature
The Senate passed legislation Tuesday that would force TikTok's China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that's expected to face legal challenges.
Wildfire southwest of Peace River spurs evacuation order
People living near a wildfire burning about 15 kilometres southwest of Peace River are being told to evacuate their homes.
U.S. Senate overwhelmingly passes aid for Ukraine, Israel and Taiwan with big bipartisan vote
The U.S. Senate has passed US$95 billion in war aid to Ukraine, Israel and Taiwan, sending the legislation to President Joe Biden after months of delays and contentious debate over how involved the United States should be in foreign wars.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.