Queensland state officials said Thursday that they had secured a deal with the Australian federal government for the 2032 Olympics in Brisbane that commits 50/50 funding for minor venues and 1.2 billion Australian dollars ($788 million) toward a new main stadium at Brisbane’s Victoria Park.
The federal government is set to invest more than 3.4 billion Australian dollars ($2.23 billion) in the Games — the single largest contribution toward sporting infrastructure in Australia’s history, federal Infrastructure Minister Catherine King said.
Queensland taxpayers and private finance will provide the balance of the money for the 17 new and upgraded venues for the Summer Games.
“It is about ensuring that when we hand the keys back after the closing ceremony, Queensland has the infrastructure it needs to build on this incredible legacy for decades to come,” King said.
The centerpiece of Brisbane 2032 is a proposed 63,000-seat stadium at the inner-city Victoria Park. Investigative works at the site have begun with geotechnical studies and soil sampling ongoing.
A new aquatics center to host the swimming events will be built nearby at an estimated cost of 650 million Australian dollars ($427.6 million).
Brisbane 2032 president Andrew Liveris welcomed the agreement and said he hopes construction will begin at major venues by the end of 2026.
“Today marks a significant shift in forward momentum following the Queensland government’s announcement in March of its 2032 Delivery Plan,” Liveris said.
The International Olympic Committee has backed the Queensland government’s 2032 venue plan after several false starts, saying the Brisbane Games are “on the right path.” Brisbane was awarded hosting rights for the Games in 2021, but political wrangling over the venues meant the final plans were not decided until this March.
The federal government has already committed 12.4 billion Australian dollars ($8.16 billion) for local transport improvements that the Queensland government believes are necessary for 2032.
In May, Kirsty Coventry was in Brisbane for a three-day inspection visit before she took over as IOC president.
The Associated Press and Reuters contributed to this report.
