Gordon Bailey, chairman of the Enterprise Florida Finance & Compensation Committee, said the money will go to the Florida Sports Foundation to help the Greater Miami Convention and Visitors Bureau prepare for the games.

FIFA announced on June 15 that 16 North American cities would host matches. Miami is one of 11 sites chosen in the United States, along with three in Mexico and two in Canada.

"With the Super Bowl in Tampa last year and Formula One in Miami just last month, the selection of Miami as a FIFA World Cup city further solidifies Florida as a key place for sports," Holly Borgmann, vice chairwoman of the Enterprise Florida Board of Directors, said Thursday during a board meeting in Coral Gables.

The sports foundation is a division of Enterprise Florida, an economic-development agency that receives public and private funds.

Enterprise Florida earlier had earmarked $5 million for Miami and $5 million for Orlando, which also sought to host games in the soccer tournament. Orlando was not selected.

"We were disappointed, of course, that Orlando did not also receive a bid," Bailey told the board. "And that money that was set aside will remain in reserves."

The matches in South Florida will be played at Hard Rock Stadium.

"The selection will no doubt have a significant impact on Florida's economy by creating countless jobs and bringing in people from around the world to enjoy the truly one-of-a-kind city that is Miami," Borgmann said.

Overall costs have not been detailed.

The tournament reportedly cost Brazil roughly $15 billion in 2014 and Russia $11 billion in 2018. The 2022 games later this year in Qatar have been estimated at $220 billion, with the prospect of a $20 billion return.

Unlike some of those tournaments where the hosts built new stadiums, the 2026 games are slated to be played in existing facilities, including football stadiums that will be modified.

Still, the tournament will carry costs ranging from stadium and training-field upgrades to hotels, transportation and security.

Toronto has estimated a $290 million cost for games at BMO Field, while British Columbia is projecting a $240 million to $260 million cost for Vancouver's host duties at BC Place.

The Canadian cities will split 10 matches.

Toronto is hoping to share costs with Canada and Ontario. British Columbia likewise is counting on cost sharing with Canada and Vancouver. But along with the costs, British Columbia has estimated $1 billion in tourism revenue.

Other matches will be held at MetLife Stadium in the New York City area; SoFi Stadium in the Los Angeles area; AT&T Stadium in the Dallas area; Levi's Stadium in the San Francisco area; Mercedes-Benz Stadium in Atlanta; Lumen Field in Seattle; NRG Stadium in Houston; Lincoln Financial Field in Philadelphia; Arrowhead Stadium in Kansas City, Mo.; Gillette Stadium in the Boston area; Estadio Akron in Guadalajara, Mexico; Estadio BBVA Bancomer in Monterrey, Mexico; and Estadio Azteca in Mexico City.

Orlando hosted five games in the 1994 tournament, when the U.S. was the sole host country.