Australia's Major Funding Propel Brisbane 2032 Olympics Venues

The Australian government has pledged A$3.435 billion for the development of venues for the 2032 Brisbane Olympics. The total cost is estimated at A$7.1 billion, with Queensland taxpayers and private financiers covering the rest, as announced by state and federal governments.

This financial injection represents the largest ever commitment by an Australian government towards sports infrastructure, with Federal Infrastructure Minister Catherine King highlighting its potential to create a lasting Games legacy. Brisbane secured hosting rights in 2021, and the announcement signifies an essential breakthrough after ongoing venue-related discussions.

A key project is the main stadium in Victoria Park, set to cost A$3.7 billion and accommodate 60,000 spectators. Complementing it, a new aquatics centre priced at A$650 million is planned. Federal and state governments are also funding transport upgrades. Organizing committee chief Andrew Liveris hailed this development as a critical step forward.

(With inputs from agencies.)