Federal funding of £1.6 billion earmarked for the construction of Olympic venues in Brisbane 2032
The Australian federal government has announced a significant contribution of £1.6bn (approximately AUS$3.435 billion) towards the construction of venues for the Brisbane 2032 Olympic and Paralympic Games. This funding, the largest ever made towards sporting infrastructure in Australia, will see a total of 17 new venues built for the quadrennial event.
The main stadium at Victoria Park will be the recipient of a substantial portion of this federal funding, with over £500m (AUS$1.2 billion) earmarked for its construction. The remaining funds will be distributed among the other 16 new or upgraded venues.
The Queensland state government will shoulder a significant portion of the balance required to reach the estimated AUS$7.1 billion total cost for 17 new and upgraded venues. For minor venues, funding will be split 50:50 between the state and federal governments as part of a new deal.
Private investors will also play a key role in the funding of the Brisbane 2032 mega project. They will contribute to the overall funding, particularly for specific projects such as the 17,000-seat arena, which will be completed ahead of the Games by the private sector. Private funds will help cover costs not met by government contributions, ensuring the full project is delivered.
The upcoming 2028 Olympic Games will be hosted by Los Angeles, while the 2026 Commonwealth Games will be a slimmed-down version in Glasgow, with an estimated cost to Victorians of AUS$589m. Unfortunately, Australia's Victoria government withdrew its hosting rights for the 2026 Commonwealth Games, citing the potential for waste if agencies had worked together better.
The rowing event for the Brisbane 2032 Olympic Games will be held on a crocodile-infested stretch of the Fitzroy River, adding a unique Australian twist to the quadrennial event. The Brisbane 2032 Olympic and Paralympic Games are estimated to cost a total of £3.4bn for construction, with elements other than construction contributing to the total cost increase.
Following the withdrawal of the 2026 Commonwealth Games hosting rights, the focus shifts to Brisbane 2032. The federal infrastructure minister, Catherine King, has emphasised the importance of the Games, stating that they will see a total of 17 new venues built for the quadrennial event. The Gabba, an iconic cricket stadium, will be demolished after the Brisbane 2032 Olympic Games.
The funding for the construction of Brisbane 2032 Olympic and Paralympic Games venues is a collaborative effort among the Australian federal government, the Queensland state government, and private investors. The main stadium at Victoria Park is largely federally funded, minor venues are co-funded equally by federal and state governments, and private investment plays a key role in specific projects and balancing the overall budget.
The Brisbane 2032 Olympic and Paralympic Games will showcase a total of 17 new venues, with the main stadium at Victoria Park receiving significant federal funding of over £500m. The remaining funds for the other 16 venues will be split between the federal and Queensland state governments, as well as private investors who will contribute to specific projects.
