Brisbane 2032 gets £1.6bn federal funding boost for Olympic venues
The Australian federal government will contribute £1.6bn to Brisbane 2032 venue construction ahead of the Olympic Games in seven years.
The federal help will leave the Queensland state government and private investors to cover the remaining £1.8bn required for the 2032 mega project.
Over £500m will go towards a major new 60,000-capacity stadium in Brisbane’s Victoria Park, with cricket’s iconic Gabba to be demolished after the Games.
“The Australian Government’s commitment of AUS$3.4 billion towards the Games venues is the single largest contribution any Australian Government has made towards sporting infrastructure in this country,” said Catherine King, federal infrastructure minister.
“The world’s biggest sporting event is coming to Brisbane, and this investment and renewed agreement shows the Australian and Queensland Government’s commitment to making it one of the best games ever.”
The Brisbane 2032 Olympic Games will see a total of 17 new venues built for the quadrennial event, while the rowing has been given a crocodile-infested stretch of the Fitzroy River.
Brisbane ramping up Olympic prep
The Games will return to Australia for the first time since 2000, when the nation’s most populous city Sydney staged the 27th Olympiad.
The estimated total cost for the Brisbane 2032 Olympic Games, and Paralympic Games, in terms of construction is £3.4bn, while costs surrounding other elements of staging the Games will increase that number.
And the multi-billion pound commitment comes despite Australia’s Victoria government withdrawing its hosting rights for the 2026 Commonwealth Games, leaving a slimmed down version in its place in Glasgow.
“The total cost of the Games to Victorians is over AUS$589m,” the state government said at the time. “This waste would have been avoided if agencies had worked together better to give frank and full advice to the government before it decided to host the Games.”
Los Angeles will host the next edition of the games, in 2028.