Funding split to build Brisbane 2032 venues

Article posted by Coliseum, February 21^st, 2023

Image: Queensland Government

The Federal and the Queensland State Government have agreed on an almost 50-50 funding split to build or remodel venues for the 2032 Brisbane Olympics (Australia).

‘AP’ stated that the Australian Prime Minister Anthony Albanese visited the Queensland State capital on February 17^th to make the formal announcement about a deal worth an estimated seven billion Australian dollars ($4.8 billion).

The 2032 Summer Olympics, officially known as the Games of the XXXV Olympiad and also known as Brisbane 2032, is an upcoming international multisport event scheduled to take place from July 23^rd to August 8^th, 2032 in Brisbane, Queensland, Australia.

‘AP’ further stated that the Federal Government will create a new 17,000-capacity indoor arena to host swimming and water polo at Roma Street, the City’s main public transport hub, and contribute to other stadium and venue refurbishments. The State Government will be responsible for demolishing and rebuilding The Gabba, which will be the main stadium for the Olympics.

The 42,000-capacity Brisbane Cricket Ground, commonly known as The Gabba, is a major sports stadium in Brisbane, the capital of Queensland, Australia. The nickname Gabba derives from the suburb of Woolloongabba, in which it is located.

The 2.7 billion Australian dollars ($1.85 billion) rebuild will add 8,000 seats to increase the capacity to 50,000 at The Gabba, the longtime home of cricket in Queensland State, and incorporate a new subway station in the precinct. Construction is set to begin in 2026.

Said Albanese, “This will leave a really lasting legacy for Queensland. It’s an investment that will produce a return with increased economic activity, increased visitors … Queensland is such a fantastic tourist destination and this will really showcase the State.”

Federal Sport Minister Anika Wells said it would be a 50-50 funding split – “It’s an agreement between the Federal Government and the Queensland Government about how we’re going to pay for the entire infrastructure that the Southeast Queensland venues will need to put on the 2032 Games.”

The State Government said more than 80 percent of the infrastructure for the Games already exists.

The International Olympic Committee (IOC) awarded the 2032 Games to Brisbane in July 2021 under a revamped procedure for choosing Host Cities in which a small group of IOC members identify and propose Host Cities to the Board. That made Brisbane next in line after Paris (France) and Los Angeles (US), giving the local organizers more than a decade to prepare.

Australia has twice previously hosted the Summer Olympics, at Melbourne in 1956 and Sydney in 2000. The State Government of New South Wales picked up most of the costs for the 2000 Games.

The 2032 Organizing Committee held its first Board meeting last April, and in December appointed American Cindy Hook as the inaugural head honcho of the organizing committee.

The International Olympic Committee (IOC) is a non-Governmental sports organization based in Lausanne, Switzerland. It is constituted in the form of an association under the Swiss Civil Code.

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