2032 SEQ Olympics could turn massive profit

A southeast Queensland Olympic Games could land a profit after the IOC revealed it would chip in a more than anticipated $AU2.5 billion to get the 2032 Games off the ground.

A SOUTHEAST Queensland Olympic Games could land a profit after the IOC revealed it would chip in a more than anticipated $AU2.5 billion to get the 2032 Games off the ground.

International Olympic Committee president Thomas Bach met with Lord Mayor Adrian Schrinner in Brisbane yesterday, where the pair discussed the region’s potential bid to host the 2032 Games.

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The South East Queensland Council of Mayors had been anticipating the IOC would provide $AU1.6 billion to the 2032 Olympic Games, but the IOC yesterday revealed that figure would $US1.8 billion — the equivalent of about $AU2.5 billion.

Cr Schrinner said they were now confident of delivering a Games that was at the very least cost neutral.

“That has been a key part of the discussion we have had this morning,” he said.

Brisbane Lord Mayor Adrian Schrinner met with IOC president Thomas Bach in Brisbane on Monday to discuss the southeast Queensland Olympic bids. Picture: Glenn Hunt/AAP

“If that can be done in a cost neutral manner, then I think we can see great potential for this in southeast Queensland.”

Mr Bach said he was “pretty impressed” with the planning that was already underway by the Council of Mayors to host the event, describing their feasibility study as “extremely well founded”.

“We should not forget that we are at the very early stages,” he told reporters yesterday.

“Now it is up to the Australians to make their minds up to take the necessary decisions.”

The IOC president said he was not willing to compare Brisbane’s potential bid to those being considered by other cities for the 2032 Games because of how far out the event was.

The Council of Mayors are expected to confirm next year whether they will make a formal bid for the event, with the IOC to make final decision on who will host the Games in 2025.