Australian governments agree on funding for the 2032 Olympics

Australian governments agree on funding for the 2032 Olympics

BRISBANE, Australia (AP) The federal and Queensland state governments have agreed to a nearly 50-50 split of funding to build or renovate facilities for the 2032 Brisbane Olympics.

Australian Prime Minister Anthony Albanese visited the Queensland state capital on Friday to officially announce the deal, which is estimated to be worth A$7 billion ($4.8 billion).

The federal government will build a new 17,000-capacity indoor arena for swimming and water polo on Roma Street, the city’s main public transport hub, and will contribute to other stadium and venue renovations. The state government is responsible for the demolition and reconstruction of the Gabba, the main stadium for the Olympics.

The A$2.7 billion ($1.85 billion) redevelopment will add 8,000 seats and increase capacity to 50,000 at the Gabba, the long-time home of cricket in Queensland state, and will add a new metro station. Construction is scheduled to begin in 2026.

This leaves a really lasting legacy in Queensland, Albanese told local radio station 4BC. Its an investment that generates returns through increased economic activity and increased visitor numbers. Queensland is such a great tourist destination and this really showcases the state.

Federal Sports Minister Anika Wells told ABC radio that the funding will be split 50-50.

It’s an agreement between the federal government and the Queensland government on how they’re going to pay for all the infrastructure the venues in south-east Queensland will need for the 2032 Games, he said.

The state government said that more than 80 percent of the infrastructure for the Games is already in place.

The International Olympic Committee awarded the 2032 Games to Brisbane in July 2021 under a reformed host city selection procedure in which a small group of IOC members identify and propose host cities to the government. This made Brisbane next in line after Paris and Los Angeles, giving local organizers more than a decade to prepare.

Australia has previously hosted the Summer Olympics twice, in Melbourne in 1956 and in Sydney in 2000. The New South Wales state government covered most of the cost of the 2000 Games.

The 2032 Organizing Committee held its first board meeting last April and in December appointed American Cindy Hook as the inaugural Executive Director of the Organizing Committee.

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