Billions locked in as deal secures Games’ future
Full funding for the 2032 Olympic and Paralympic Games is locked and loaded with a deal brokered between the Queensland and federal governments.
A deal locking in billions for the 2032 Olympic and Paralympic Games has been struck between Queensland and the federal government to give the Brisbane event “certainty”.
Queensland Deputy Premier Jarrod Bleijie trumpeted the deal, which includes both governments committing 50-50 funding for minor venues, a full relocation of funding for the Brisbane Arena and $1.2 billion of federal funds towards a main stadium at Brisbane’s Victoria Park.
The Brisbane Arena, which the federal government was set to stump up $2.5 billion for, was scrapped during a 100-day review to determine the infrastructure plan for the Games.
Bleijie said a market-led proposal for the 17,000-seat arena with private sector interest would provide better benefits for taxpayers.
Funding for the Games is split equally between both the state and federal governments under a $7.1 billion envelope.
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The federal government is set to invest more than $3.4 billion in the Games – the single largest contribution towards sporting infrastructure in Australia’s history, federal Infrastructure Minister Catherine King said.
“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,” Ms King said.
“Our most decentralised state will become home to the most decentralised Games.”
The centrepiece of Brisbane 2032 is a proposed $3.7 billion, 63,000-seat stadium at the inner-city Victoria Park.
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Investigative works at the site have begun with geotechnical studies and soil sampling ongoing, Blejie said.
Topography and boundary surveys are set to be undertaken to inform design and construction planning.
Brisbane 2032 boss Andrew Liveris welcomed the agreement and hopes shovels will be in the ground for 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 have backed the LNP government’s 2032 venue plan after several false starts, saying the Brisbane Games are “on the right path”.
But Olympic rowing still has clouds over its viability on Rockhampton’s Fitzroy River as the sport’s international body is set to visit the site.
Bleijie said the government was very committed to hosting rowing on the Fitzroy.
A total of $145.5 million has been allocated to Brisbane Olympic infrastructure in the forthcoming financial year, under Treasurer David Janetzki’s first budget.
That will blow out to $1.7 billion over the next four years, with $950 million allocated to the construction of the athletes’ villages and $832 million for procurement and delivery of venues.
The government recently passed a bill to guarantee construction of 2032 Olympic sites are not impeded by exempting them from 15 planning laws.
The laws include the Environmental Protection, Queensland Heritage and Nature Conservation Acts, sparking outrage from advocacy groups.
