Toronto Mayor Rob Ford presents a proclamation declaring Pan Am/Parapan Am Day to the games' CEO Ian Troop outside city hall on Tuesday. (Colin Perkel/CP)

Organizers say the Toronto Pan Am Games will be the largest sporting event in Canadian history, but three years from its opening ceremonies there are concerns about whether the city will be ready, John Lancaster reports.

"Seven thousand athletes for the winter games in Vancouver compared to 10,000 athletes and officials for us, so it's a big, meaty platform," said Ian Troop, CEO of the 2015 Pan American and Parapan American Games.

All three levels of government are funding the 2015 competition for a total of $1.4 billion, and all three are saying the games will come in on target.

"I'm very confident that these games will be on budget and will be on time," said Sports Minister Bal Gosal.

But Progressive Conservative MPP Rod Jackson isn't so sure.

"They keep telling us that they're on time and on budget, yet we have yet to see a detailed version of the budget," he said.

To see Lancaster's full report, click the above video.