If Canada's athletes net any medals at the 2020 Olympics, they won't be standing on a podium in Toronto.
Mayor Rob Ford dashed the city's hopes of hosting the Olympics on Thursday, saying a bid for the 2020 Summer Games wasn't financially feasible.
Toronto's nascent bid for the 2020 Games was endorsed by several local leaders including former Ontario premiers David Peterson and Mike Harris. Olympic rower Marnie McBean and prominent businessman Paul Godfrey also supported a potential bid.
In previous years, the city failed twice to host the sporting world's largest event.
Toronto lost an Olympic bid to Atlanta after being shortlisted in 1996 and was nudged out by Beijing for the games in 2008.
Rome, Madrid, Istanbul and Tokyo have all launched bids for the 2020 Olympic Games. The International Olympic Committee will decide on a host city in September 2013.
But Toronto will still have a chance to play host to an international sporting event when it welcomes the 2015 Pan Am games.
