TORONTO, Canada (AFP) – Toronto has decided not to bid for the 2024 Summer Olympics, Mayor John Tory announced Tuesday, amid waning public support for hosting the event.

“I am not saying no to the Olympics,” Tory said. “I am saying not this time.”

The announcement taking Toronto out of contention followed a poll Monday showing that only a bare majority of its residents were in favour of holding the games – and that opposition was rising as people learned more about the games’ costs and benefits.

Reflecting the public ambivalence, Tory expressed some regret at passing up the opportunity to showcase his city to the world.

“I have no doubt that the Olympic Games would put the eyes of the world on Toronto. I love this city and I want nothing more than to be able to show the rest of the world our spirit, our people, our strength, our values, the way we live together,” he said.

Five cities – Budapest, Hamburg, Los Angeles, Paris and Rome — are already in the mix as confirmed candidates.