The cost for Toronto to host the 2026 FIFA World Cup is now projected to be nearly $80M “more than initially thought,” according to Sara Jabakhanji of CBC.ca. City staff now “estimate the hit to taxpayers will run about” $380M, linking the cost increase to Toronto “being awarded a sixth match, instead of the five initially predicted.” City Budget Chief Shelley Carroll yesterday “defended the cost escalation,” saying that the rise is “‘manageable’ and the economic return will be much more valuable for the city in job and economic growth.” When it comes to mitigating costs, Carroll said that these reports “allow the city to be ‘more accountable and more transparent,’” in addition to “counting pennies in the planning process.” Toronto Mayor Olivia Chow said that much of the rise in cost projections is “a result of inflation,” adding that she is “confident the city will find ways to offset some of the costs that fall onto Toronto.” Earlier this month, Ontario announced its commitment to giving Toronto up to $97M for the city's FIFA World Cup hosting duties, as “as long as the federal government matches its contribution” (CBC.ca, 2/26).

Source: CBC News February 27, 2024 17:13 UTC