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TORONTO (Reuters) - Toronto was awarded the 2015 Pan American Games on Friday by beating Bogota, Colombia and Lima, Peru on the first ballot in a vote in Guadalajara, Mexico.
Toronto, which has twice failed in bids to land the Summer Olympic Games, has budgeted $2.4 billion for the Games which will be spread out across 16 other southern Ontario municipalities.
Canada has twice before hosted the Pan Am Games in 1967 and 1999 in Winnipeg and is preparing to stage the Winter Olympics in Vancouver next February.
Rio de Janeiro hosted the 2007 Pan Am Games and used the event as a launch pad for its successful bid to land the 2016 Olympics.
The 2011 Pan American Games are to be held in Guadalajara but have been beset by problems and construction delays.
Writing by Steve Keating in Toronto; editing by Pritha Sarkar