News State QLD News Funding deal struck for Brisbane’s Olympic Games bid

Funding deal struck for Brisbane’s Olympic Games bid

brisbane olympics
A rebuilt Gabba is key to the Brisbane Olympics bid. Photo: AAP
Twitter Facebook Reddit Pinterest Email

The Queensland government has welcomed a federal funding deal for Brisbane’s 2032 Olympic bid, but wishes the Commonwealth “would just get on with it”.

Prime Minister Scott Morrison has agreed to a 50-50 funding arrangement for infrastructure including stadiums, venues and roads for the Games in 11 years.

The deal was struck on Monday afternoon, just over an hour before the 5pm deadline for guarantees to be sent to the International Olympic Committee.

As part of the agreement, a jointly owned, funded and run Olympic infrastructure agency will be set up to oversee all projects.

“Our offer is for a genuine partnership, with shared costs and shared responsibilities, working together to make this the best Olympics on record,” Mr Morrison said.

“This takes the Olympics out of the day-to-day politics.

“It provides a platform for bipartisan support at every level of government and let’s those who we will jointly appoint to get this job done, to just get on with it.”

Queensland Premier Annastacia Palaszczuk backed an Olympic infrastructure agency, saying she was just relieved to have sent the guarantees to the IOC in time.

She also welcomed the federal funding after calling for the arrangement for at least two weeks, saying both levels of government were great at delivering infrastructure.

“There’s always an independent agency, so what happens is once the Olympics is awarded the independent agency is essentially set up and it’s set up in statute,” she said.

“We’re actually working through that at the moment, legislation that the state would be required to put in at the end of the year once we are announced as being successful, hopefully as soon as July.”

Ms Palaszczuk said IOC president Thomas Bach and lawyers went through the Brisbane bid’s guarantees on Monday night and the Games would be “good to go”.

“I thank the Prime Minister for getting me such a prompt response,” she said.

“He met the deadline, that’s the main thing. Just get on with it, come on.

“Anyway it is going to be great, it means that the Gabba redevelopment can happen, community facilities can happen and the road projects can happen that we need.

“It will set Queensland up for decades to come. So Sydney had its time to shine, and in 2032, Brisbane, Queensland, it’s going to be fantastic.”