Toronto’s World Cup price tag increases, will now cost $300M
Posted July 5, 2022 5:11 pm.
Last Updated July 5, 2022 5:19 pm.
Canadian soccer fans and Toronto residents were pleased when the city was announced as a host of the 2026 World Cup, but it’s not going to come cheap.
According to a new city report, the estimated cost of Toronto hosting five World Cup games increased by $10 million and is projected to top up at around $300 million by 2026.
City staff cited the “recent escalation in inflation rates” as a driving force behind the increase.
Vancouver was the other Canadian city selected and will host five matches.
Under the proposed framework, the provincial and federal governments are expected to cover approximately two-thirds of that total. The City of Toronto would have to commit roughly $90 million of the $300 million price tag.
Toronto’s city council must now approve a multi-party consensus between Toronto, the provincial and federal governments to obtain the necessary funding.
Toronto FC’s BMO Field. (Cole Burston/CP)
The selection of Toronto means BMO Field will need to add 10,000 seats to reach FIFA’s minimum of 40,000 for World Cup games. Further upgrades, priced at approximately $15 million, are required at Sunnybrook and Centennial Park’s sports fields.
Eighty games will be divided between co-hosts Canada, the United States, and Mexico for the 2026 tournament, with the U.S. awarded most of the matches, including the quarterfinals, semifinals and the championship game.
In April, city council voted 21-1 in favour of moving forward with plans for Toronto to host up to five World Cup 2026 matches at an estimated $290 million.
City councillor Gord Perks (Parkdale–High Park) was the lone vote against hosting matches in Toronto, citing exponential costs.
“If I had those tens of millions of dollars, I’d use it to expropriate properties to build affordable housing,” Perks said.
