Federal Government agrees to back 50% of Brisbane’s 2032 Olympic Games costs

Australian Prime Minister Scott Morrison has guaranteed that the Federal Government will meet half the cost of Brisbane’s hosting of the 2032 Olympic Games, should the city be confirmed as the host.

The pledge was contained in a letter from Prime Minister Morrison to Queensland Premier Annastacia Palaszczuk, delivered this afternoon.

Premier Palaszczuk welcomed the commitment for venues, road and transport projects to be equally funded by the Federal and Queensland Governments, which contains the condition that a jointly owned, funded and run Olympic Infrastructure Agency is set up with full oversight on what goes ahead.

Advising “this is what I asked the Prime Minister for” Premier Palaszczuk confirming her agreement to the new Olympic Infrastructure Agency, adding “I always say we work best when we work together. This proves it.”

Prime Minister Morrison also confirmed “we have always believed in the potential of the 2032 Olympic Games for Queensland and Australia and it’s important we maintain momentum to win this bid.

“Backing the Queensland bid means more jobs, better infrastructure and more tourism dollars.

“Just like the Sydney 2000 Games, the Queensland bid has the opportunity to reshape our country, but all levels of government must work together and take the politics out of each decision.”

Welcoming the joint funding commitment, Brisbane Lord Mayor, Adrian Schrinner noted “this Federal funding agreement is far more generous than what was offered to Sydney for the 2000 Olympics and it’s a massive win for Brisbane and Queensland.

“A successful Olympics bid will bring unparalleled benefits to our region, catalysing the development of much-needed infrastructure, boosting our local economy and providing jobs for residents, all while putting the world’s eyes on Brisbane.”

The Federal Government’s support will also guarantee security for a Brisbane Games along visa assistance, plus taxation support.

The Federal Government has asked for both Fairfax MP Ted O’Brien and Federal Sport Minister Richard Colbeck to be included on the three-government Olympic bid team, which the Queensland Government has indicated it would accept.

The make-up of a Olympic Infrastructure Agency was also welcomed by Australian Olympic Committee President John Coates who added “with this shared governance we will overcome any political divide and ensure that these are Games for SEQ, Queensland and all of Australia.”

Image: Queensland Premier Annastacia Palaszczuk has recommended that an overhauled Gabba will be the centrepiece of the 2032 Olympic and Paralympic Games bid.