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The World Cup Promised $3.8 Billion — Here's What Canada Actually Got

       Monday July 13, 2026 FIFA promised Canada a $3.8-billion economic windfall for hosting the 2026 World Cup. Two weeks into play in Toronto, the receipts tell a very different story — and there's a lesson in it for anyone thinking a "big event" boost is coming to their city, their rental property, or their business. The Billion-Dollar Bill Came First Before a single ball was kicked, Canadian taxpayers were already on the hook. According to the Parliamentary Budget Office, governments across the country will spend roughly $1.07 billion hosting the 2026 tournament. Toronto alone budgeted $380 million to host six matches at BMO Field. British Columbia's tab for Vancouver's seven matches at BC Place came in even higher, at about $578 million. Ottawa is chipping in $473 million of that total — including $220 million in direct grants to Toronto and B.C., plus another $145 million earmarked for security costs during the tournament. Net of federal help, Toronto and B...
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High-Stakes Court Clash Over Ruby Liu’s Hudson’s Bay Lease Ambitions

 

                            Billionaire Ruby Liu tours a former Hudson's Bay-owned Saks Off 5th department store.


A tense legal battle is unfolding in Ontario Superior Court over B.C. billionaire Ruby Liu’s bid to acquire 25 former Hudson’s Bay store leases for $69.1 million. Liu, who already owns three Bay leases in malls she controls, plans to launch a new department store chain under her own name, backed by a proposed $400 million investment.

However, landlords — including major property owners like KingSett Capital, Cadillac Fairview, Oxford Properties, and Ivanhoé Cambridge — argue her plan is financially unrealistic and operationally flawed. KingSett’s lawyer, Matthew Gottlieb, told the court the $400 million Liu cites is “non-existent,” noting she has refused to personally guarantee the funds and that much of her capital is tied up in companies without binding commitments to support the venture.

Landlords also point to significant losses at Liu’s existing malls and claim her renovation budgets and timelines underestimate the work needed to revive the shuttered spaces. The court-appointed monitor, Alvarez & Marsal, has recommended rejecting the deal, citing concerns over the viability of her business plan.

Hudson’s Bay, which is under creditor protection, supports the sale, arguing Liu was the highest bidder in a court-supervised process and that the deal could return up to $50 million to senior creditors. The outcome could set a precedent for future lease transfers in insolvency cases.

The hearing continues, with both sides framing the decision as pivotal — either a bold retail revival or a costly misstep.

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