Toronto council seeks audit of FIFA World Cup hosting costs

Toronto city council is asking for a valueformoney audit of the city’s FIFA World Cup hosting expenses after an early report showed weakerthanexpected sales at the fan festival. According to the report, fewer than half of premium Fan Fest tickets were sold, bringing in an estimated $5 million in revenue. City staff said the overall cost of hosting six matches is still expected to remain within the approved $380 million budget. Coun. Josh Matlow argued the event was a financial failure for the city and said Toronto should examine whether the spending was justified. The city’s funding plan estimated nearly $179 million in municipal spending, with the rest covered by provincial and federal support. Mayor Olivia Chow defended the tournament, saying Toronto avoided raising property taxes and used hotel taxes to help cover costs. She said the event should be viewed as a success and pointed to benefits such as strong transit performance and record ridership at nearby stations. A full financial report is expected early next year, once staff finish confirming revenues and other budget offsets.