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Toronto reselling World Cup tickets to 'avoid' spending property taxes on tournament, city says (www.cbc.ca)

submitted 5 days ago by Wudi@feddit.uk to c/toronto@lemmy.ca

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[–] givesomefucks@lemmy.world 6 points 5 days ago

Lol:

In an emailed update Tuesday, Stephen Conforti, Toronto's chief financial officer, said the city has sold more than 450 of its approximately 3,500 World Cup packages, which will help "ensure a return on the City of Toronto’s investment."

The city decided to buy up the packages last year, with Toronto’s FIFA World Cup subcommittee recommending that the city buy nearly $11 million worth of match tickets, citing it as a "key revenue generation strategy," according to a decision letter from the committee last March. The packages include tickets to the games, access to hospitality suites and other amenities at Toronto Stadium.

So almost 90% unsold and Toronto is on track to lose ~9 million on this?