The Brisbane City Council will contribute $870,000 over two years to a feasibility study for a south-east Queensland bid to host the 2028 Olympic Games.
But the Gold Coast will not contribute, having unanimously voted against providing $410,000 for the study.
Brisbane Lord Mayor Graham Quirk said a bid of this nature would not have been possible in previous years.
“Now, the International Olympic Committee are more prepared to look at a regional Olympic bid,” Councillor Quirk said.
The feasibility study would also serve as a road map to the future needs of south-east Queensland, he said.
“It is my fervent view that whether or not we go to a bid in 2019, this work will help inform a direction for south-east Queensland into the future in any event. This is money well spent for our region.”
The feasibility study was opposed by all non-LNP councillors.
“Other cities who are genuine about getting a successful bid would’ve been successful in getting support from other levels of government,” Brisbane Opposition Leader Peter Cumming said.
He said he believed the Federal Government would be reluctant to borrow several billion dollars to build the infrastructure required.
“It would involve an attitude towards public finance similar to what the Greek governments pursued for some years,” Cr Cumming said.
Labor councillor Shayne Sutton said the absence of the second-biggest council in south-east Queensland from the study did not bode well.
“In my view, the Lord Mayor does not need a feasibility study to win an Olympic bid, he needs a magic wand and a money tree,” Cr Sutton said.
She moved a motion to delay funding until it was clear whether further money would need to come from Brisbane as a result of the Gold Coast’s withdrawal, but the motion was defeated by LNP councillors.
The South-East Queensland Council of Mayors will meet again when all 11 councils linked to the bid have considered the feasibility study.
Cr Quirk said if more money was required he would bring the matter back to the full council.
No decision on a bid is required until early 2019.