The cost of hosting the 2026 FIFA World Cup in Toronto continues to rise, with the latest price reaching $380 million, which is $80 million more than the initial estimates when the city was selected to host the tournament two years ago.

For her part, the city’s mayor, Olivia Chow, explained on Monday: “For me, it is important that we are transparent and realistic.. No one expected the inflation rate today.”

Uncertainty about inflation is among the factors mentioned by city staff in the latest cost estimate, along with updated price estimates, vendor quotes, and safety and security requirements.

Furthermore, Toronto secured six matches as part of the joint bid with 15 other cities, which is one more match than officials expected.

The city’s deputy mayor, Mike Colle, told CTV on Monday: “It is unfortunate that this increase occurred, but I believe the tournament represents a positive contribution to the city, and we are putting this city on the world map.”

Toronto will host the very first match ever in the FIFA World Cup in Canada, which will include Canada’s opening match, on June 12, 2026.

Meanwhile, Toronto councillor Josh Matlow said on Monday that it is ridiculous, and the amount of money Toronto is putting into this, compared to other levels of government, is embarrassing.”

The province has pledged $97 million to cover Toronto’s hosting costs, and while the federal government has committed to supporting the city, the funding is still being finalized.

Previous staff estimates valued the tournament’s GDP benefit at $392 million for Toronto, along with $456 million for the province.