With 451 days until the FIFA World Cup comes to Toronto, the city’s subcommittee has approved a recommendation to buy suites, lounges, and tickets, which it says could be an avenue to generate money from hosting the tournament.
The FIFA World Cup 2026 subcommittee met on Tuesday to discuss the potential money-making opportunity, which would require the city to front $10.8 million to do so.
During the meeting, the subcommittee recommended that the city dip into its special event reserve fund to cover the cost. Then, its partner Maple Leafs Sports and Entertainment (MLSE) would sell those extras to deep-pocket corporations, hopefully at a significant premium.
“We’re confident that this will be a revenue generating opportunity for us as a city,” said Sharon Bollenbach, City of Toronto FIFA World Cup Executive Director. “Either FIFA and their official sales agent on location will be selling these packages, or the city can. So, we want to take advantage and not leave any money on the table.”
The cost of hosting six World Cup matches has been earmarked at $380 million, and Toronto is expected to front $180 million of that cost.
Bollenbach could not say what percentage the committee expects the return on investment will be if the decision to buy and sell packages goes through, but they are confident the reserve fund will be paid back in full by the first quarter of 2026.
However, not everyone is sold on the idea.
“The fact that Toronto is in the game of reselling tickets and that’s part of our revenue strategy for FIFA is a little bit of a concern,” said Don Valley East Coun. Jon Burnside.
Burnside added that because FIFA hasn’t revealed which teams are taking the pitch in Toronto, that may also impact the bottom line of how much the city can sell the proposed ticket packages for.
“We all know that for the Maple Leafs, they charge vastly different ticket prices depending on who’s coming to town. So, do we break even, do we make money, or do we actually lose money?”
While the subcommittee approved the recommendation, the plan isn’t a done deal just yet. City council will debate it at their meeting next week.
With files from CTV’s Rahim Ladhani
