Miami is being given $5 million
Miami is being given $5 million: Enterprise To assist Miami in hosting matches during the 2026 FIFA World Cup soccer tournament, Florida will provide $5 million.
The funds will help the Greater Miami Convention and Visitors Bureau get ready for the games, according to Gordon Bailey, chairman of the Enterprise Florida Finance & Compensation Committee.
FIFA confirmed on June 15 that there would be matches in 16 North American cities. Eleven locations were chosen, including Miami, three in Mexico, and two in Canada.
“The choice of Miami as a FIFA World Cup city further solidifies Florida as a key place for sports, following the Super Bowl in Tampa last year and Formula One in Miami just last month,” said Holly Borgmann, vice chairwoman of the Enterprise Florida Board of Directors, during a board meeting on Thursday in Coral Gables.
The sports foundation is a part of Enterprise Florida, an organisation that promotes economic growth and receives both public and private funding.
Before this, Enterprise Florida had set aside $5 million for Miami and $5 million for Orlando, both of which were vying to host soccer tournament matches. Orlando wasn’t chosen.
Naturally, we were unhappy that Orlando did not submit a bid as well,” Bailey told the board. And the funds will continue to be held in reserve.
Hard Rock Stadium will host the games in South Florida.
The decision, according to Borgmann, “would without a doubt have a tremendous impact on Florida’s economy by creating countless employment and drawing in visitors from all over the world to enjoy the genuinely unique city that is Miami.”
The total cost has not been specified.
According to estimates, the tournament cost Brazil $15 billion in 2014 and Russia $11 billion in 2018. The 2022 Olympic Games in Qatar are expected to cost $220 billion, with a potential return of $20 billion.
The 2026 games are scheduled to be held in existing venues, including football stadiums that will be adapted, unlike some of those tournaments where the hosts built new stadiums.
However, the event will incur expenses such as those for upgrading the stadium and practice fields as well as for hotels, transportation, and security.
While British Columbia anticipates a cost of $240 million to $260 million for Vancouver’s hosting responsibilities at BC Place, Toronto has projected a $290 million cost for games at BMO Field.
Ten games will be distributed across the Canadian cities.
Toronto wants to split expenses with both Canada and Ontario. The cost-sharing strategy is also being used by British Columbia and Vancouver. However, British Columbia anticipates earning $1 billion in tourism-related revenue in addition to the costs.
At&T Stadium in Dallas, Levi’s Stadium in San Francisco, Mercedes-Benz Stadium in Atlanta, Lumen Field in Seattle, NRG Stadium in Houston, Lincoln Financial Field in Philadelphia, Arrowhead Stadium in Kansas City, Mo., Gillette Stadium in Boston, Estadio Akron in Guadalajara, Mexico, Estadio BBVA Bancomer in Monterrey, Mexico, and Estadio Estadio in Mexico City will all host additional games