In our spotlight on Business report.

The state is already getting to work on preparations for the 2026 World Cup final.

And there's plenty to do.

Millions are expected to descend on the region to catch the game.

Early estimates predict the event will generate about $2 billion in economic activity.

But hosting also comes at a cost.

And exactly how much is still unknown.

New Jersey is technically splitting hosting duties with New York.

Question is how much of the tab will the other side of the river be picking up?

Katie Sobko is a statehouse reporter for Northjersey.com The Bergen Record.

I recently talked to her about her reporting on that very question.

Katie, great to have you on.

Obviously, a lot of the talk since the news that the World Cup final and a few games will be held here is the economic benefit But you looked deeper into the costs.

What do we know so far about what New Jersey's going to have to shell out?

Well, we know that New Jersey has already shelled out a significant amount.

NJSEA the state's Sports Exposition Authority, which owns the Meadowlands complex, has already been given $30 million from the state two years ago and has already spent upwards of 60 million of that to modify the stadium and to modify the grounds.

They still have some left.

Obviously, we're weeks away from a budget address.

Maybe there's more coming, but this is costing tens of millions of dollars already and there is not a legal agreement with New York at this point to confirm that they are going to pay back.

They said they would.

So we'll see.

But at this point, there's not quite yet any paperwork to say they have to.

What is the governor's office said about that?

That there's an understanding that New York is also hosting this.

So there's an understanding that the cost will be split.

Yeah, the governor is quick to point out the partnership.

He says that he has a great working relationship with New York City Mayor Eric Adams.

And it probably is true.

It's just a matter of there is not anything on paper yet to say they have to.

And the governor has always also stressed that the partnership is just is not just on financials, but in terms of security, police force and services as well.

So there are a lot of outside factors besides just the the actual money coming into the partnership and coming into what New York is supposed to provide as well.

Are there any written plans about what the projected costs might be versus the projected revenue?

Do we have anything on paper at this point?

Not yet.

I mean, the NJSEA has already set out a timetable and a cost for the things that they have hired people for.

They have hired architects.

They have hired designers.

They've hired a firm to convert the field from turf to grass.

So the underlying costs for those things that are already booked and paid for exists.

But beyond that, what might happen or what is supposed to happen in the next, you know, almost 30 months is still to be seen.

And with the way that inflation works and the supply and demand, those costs might not be available for some time until the work gets done.

And so what should we expect next, then some type of breakdown, I'm guessing, in terms of what the projects are that they'll need to complete what the costs are.

Yeah, I understanding is that it's a work in progress and there is a host committee that has been formed that is not necessarily a government entity that is responsible for things like fundraising and securing sponsors.

The governor is adamant that private funding will pay for this, and if this host committee does secure that sponsorship and secure those donations, that that's likely what he's talking about.

But it hasn't happened yet.

It's I assume that they had to get find out what games they had before they could start approaching people about donating the money for it.

Katie Sobko is the statehouse reporter for Northjersey.com the Record.

Katie thanks so much.

Thank you.