The 6ix's soccer community got a real big ego boost on Thursday.
On June 16, 2022, FIFA officials announced that two Canadian cities, Toronto and Vancouver, had been selected to host several 2026 FIFA World Cup games, and it will cost the Big Smoke more than Drake's net worth.
According to a report by the city of Toronto, the operations and capital costs to host the massive sporting event will be around $290 million by 2026, including a 10% contingency.
That's a big bill considering Canada is only supposed to host a total of 10 games, five of which would be in Toronto. However, Toronto is hoping to split the bill.
"In keeping with the approach to major events planning in Canada, the Governments of Canada and Ontario are being asked to cover two-thirds of this amount or an approximate total of $177 million," the report states.
The city council also added that the cost of hosting the World Cup would be offset by Toronto's access to commercial rights and "related revenue opportunities" delegated by FIFA to event organizers.
As a result, the city estimates that the overall intake of earned revenue sources, commercial sponsorships, and local partnerships will bring down the overall cost to approximately $73.8 million, plus $20 million in "value-in-kind, mostly in 2025 and 2026."
Toronto is set to host its games at the BMO Field. However, there is no information on what matches will be played in Canada or where they'll fall in the tournament.
Tickets are not yet available for purchase.
The three North American nations will host the 2026 FIFA World Cup, where 48 teams will compete in the tournament. A first for the event.
It Could Cost Toronto $290M To Host The 2026 FIFA World Cup & It's Only For A Few Matches
Source: News Article Viral
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