Toronto FIFA World Cup costs surge to nearly $380M
While the fact thatĀ Toronto is hosting a handful of games for the world’s biggest sporting event is exciting for some fans, the FIFA World Cup 2026 is proving to beĀ more money than it’s worth for the city, at least in the opinion of some locals.
It wasĀ revealed this week that the expenses the City will have to incur to hold six of the soccer tournament’s games at BMO Field have now surged to $380 million,Ā a whopping $80 million more than recent estimates and nearly $100 million more than initially projected.
And, taxpayers are righteously irate that they’reĀ the ones footing the bill.
City noted earlier to generate about $393 mil. Now we’ll make nothing. Thanks to the poison pen of John Tory. Toronto bears 100% of the cost. Also any profit made is split 60(city)/40 to FIFA, a multibillion $ company. We’re millions away from that now. FIFA should have paid us
ā Walter Spicer šØš¦ (ć¦ć©ć«ćæć¼ć¹ćć¤ćµć¼ļ¼ (@Walterverse) February 27, 2024
Many seem to feel that the costs of participating in FIFA far outweigh the benefits for residents, despite the fact that City staff assure that the event will “bring positive economic and cultural benefits,Ā particularly in the tourism, hospitality, and entertainment sectors.”
And, while the cost wasĀ due to be shared between various levels of government, the Province of Ontario has already said that it won’t be committing any more funds than the $97 million originally promised, even with this inflated price tag.
āspend $380 million to hold six games for the global soccer tournament, up from the $300ā
A modest beginning.
āThankā you @JohnTory.
ā sidpicasso (@sidpicasso) February 27, 2024
Many are pointing the finger at former Mayor John Tory, who penned the deal with FIFA, which is known for its “take it or leave it” arrangements that put the financial burden on host cities. Details of theĀ deal with TorontoĀ are still under wraps.
City Councillor Josh Matlow is among those responding to the news this week,Ā writing on X on Monday, “Iām excited about Toronto hosting FIFA World Cup games, but the agreement Toronto signed was horrible, while so many of our city’s basic needs havenāt been met. John Tory didn’t just drop the ball, he scored an own goal. We need a better deal for Toronto.”
I’m a big soccer fan but this is far beyond ridiculous. FIFA will make a killing as usual while host cities taxpayers pick up the tab. $380 million for 6 World Cup matches ($63.3MM per match) is simply not worth it. #TOpoli
ā Mike MacKenzie (@MWMacKenzie) February 26, 2024
Along with being angry about the soaring expenses, the split of the costs, and the fact that TorontoĀ even signed on to host games in the first place, some people also fear that sums associated withĀ the event will only continue to balloon.
Many anticipate that the figure will climbĀ far above the $380 million markĀ when all is said and done, maybe even outpacing any economic benefit to the city and province.
Expect costs to be near double by time all said and done. We are always sold these events at a low ball price then when we get final bill.. itās always sticker shock but too late. We canāt afford this party
ā Bingo315 (@Bingo7697) February 27, 2024
With leadersĀ bemoaning Toronto’s budget gap and overall fiscal troubles for a few years now, and with residents perceiving a drastic decline in the quality of life in the city, many are wondering why FIFA was even a consideration when the money is needed so urgently elsewhere.
Some are even calling for a cancellation of the Toronto games this late in the process, saying there’s “absolutely no way taxpayers should have to pay that much for this event.”
Yeah, I’m totally convinced that spending my tax money so dudes can kick a ball is so much more useful than, say, re-paving Eglinton Ave from one end to the other.
ā Glen MacDonald (@glen1macdonald) February 27, 2024
Toronto is set to hostĀ five group-stage matches for FIFA, along with one more match in the round of 32, which runs from June 11 to July 19, 2026.
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