City council approves $25M agreement for FIFA World Cup at Levi's Stadium

On February 11, 2025, the City of Santa Clara convened a Joint City Council and Stadium Authority meeting to discuss significant developments regarding the upcoming FIFA World Cup events scheduled to take place at Levi's Stadium. Central to the discussions was a proposed assignment and assumption agreement aimed at reallocating financial risks associated with hosting the World Cup, particularly in light of anticipated net losses from previous events.

City officials revealed that the agreement would transfer responsibilities from MANCO, the current managing entity, to the Barria Host Committee. This shift is designed to mitigate potential financial losses, which are projected to be substantial for events like the FIFA World Cup in 2026. The agreement is structured to ensure that the city retains its lead role in public safety and emergency response, while also securing full reimbursement for costs incurred during the events.

Key premises outlined during the meeting emphasized the importance of financial safeguards for the city. Officials expressed the need for a reimbursement process that would ensure the city is compensated for its expenses, which could reach approximately $11.5 million. The discussions highlighted the city's commitment to maintaining its financial interests while navigating FIFA's stringent business model, which typically favors the organization over local jurisdictions.

Moreover, the meeting underscored the community's enthusiasm for hosting the World Cup, with city leaders affirming their support for the event as a means to enhance Santa Clara's profile as a premier soccer destination. The city aims to leverage potential economic benefits from the event, including sales and transient occupancy taxes, while also exploring marketing opportunities around the stadium.

In conclusion, the meeting served as a critical platform for city officials to outline their strategy for managing the complexities of hosting a global sporting event. As negotiations continue, the city remains focused on ensuring that the benefits of hosting the World Cup are maximized for both the local economy and the community at large. The next steps will involve finalizing the agreement and addressing any outstanding concerns related to financial and operational responsibilities.