Is the Commonwealth Games the right event for our state?

Other global events this decade could also be pursued at a fraction of the cost, with decent economic benefits mooted. Will the Commonwealth Games worth the expense?

After two years of being battered by the Covid-19 pandemic, you can understand why many Victorians would embrace the prospect of a major sporting event held locally.

But is the Commonwealth Games the right event for our state?

After Durban was stripped of its hosting duties for 2022 due to financial problems, 2026 host Birmingham was brought in to save the day.

That left 2026 vacant, and remarkably it has been for more than four years.

Last year the president of the Commonwealth Games Federation, Louise Martin, said the size and scale of the event was not sustainable and should be downsized from 2026.

Perhaps that would make the event more affordable, but will it still be worth the expense?

The FIFA World Cup could be a more suitable and profitable event for Melbourne to host. Picture: Getty Images

A cost-benefit analysis is on the way, Daniel Andrews says. But the premier sounds ready to throw the cheque book at organisers already when saying the billion or two needed to host the event was an “investment”, not a cost.

Small Business Australia executive director Bill Lang said desperate organisers should sweeten the deal with extra payments, or the Games would be cost prohibitive.

Jeff Kennett, who enthusiastically embraced Melbourne’s 2006 Games, says the event is now diminished and we should set our sights elsewhere.

Ted Baillieu, another Liberal premier, backed a local event — but only if done without extravagance.

Other global events this decade could also be pursued at a fraction of the cost, with decent economic benefits mooted.

France celebrate with the World Cup Trophy following their sides victory in the 2018 FIFA World Cup Final between France and Croatia. Picture: Getty Images

Sporting spectacles are usually a no-brainer, but gross debt is set to hit $178 billion in Victoria the year before the Games would arrive.

The Auditor-General said the pandemic continues to affect the financial position of the state “with longer term consequences for its financial sustainability”.

The premier seems unperturbed, saying the “only way out of these challenges is to do more”.

Opposition Leader Matthew Guy has also backed the bid for the Games, despite his concerns about the state’s spiralling debt.

With an election due in November, spending priorities will be a key battleground.

And without a miracle, it will be when the next election rolls around, too – in 2026.