The expanded tournament featuring 48 teams has already been jointly awarded to Canada, the United States, and Mexico, but FIFA has not yet revealed the list of host cities for the event.

Currently, 22 candidate cities, including Toronto and Edmonton, are competing for the right to host the games.

In a press release issued early Friday morning, FIFA confirmed that it will announce on June 16 the 16 cities that will be officially selected to host.

This announcement comes after months following a visit by a FIFA delegation in November to assess Toronto as a potential host site.

For his part, FIFA Vice President and CONCACAF President Victor Montagliani said in the statement, "In line with previous phases of the FIFA World Cup 2026 selection process, these cities will be announced in a way that serves the interest of football, taking into account the needs of all stakeholders, as we aim to lay the foundations for the tournament to be successful in all three countries." "We cannot but reiterate our appreciation to all the cities for their efforts and dedication in this process."

A report by the task force, approved by City Council in April, linked the total cost of hosting World Cup matches in Toronto to $290 million, with regional and federal governments bearing nearly two-thirds of the funding.

Some major expenses include $63.7 million for preparing BMO Field to host the games and $41.2 million to build training facilities for visiting teams.

Officials estimated that the event will generate $307 million in GDP and bring 174,000 overnight visitors to the city.

Mayor John Tory told reporters: "This event will put Toronto on the map." "This is the biggest sporting event in the world, and I believe the vast majority of Toronto residents will be excited about it and will notice the economic benefit from it."

Edited by: Dima Abu Khair