Brisbane Olympics likely to cost over $5b

The cost of the 2032 Brisbane Olympics is likely to exceed the A$5 billion (S$5b) estimate in the pitch document but the Australian government would ensure it was spent wisely, sports minister Richard Colbeck said yesterday.

The federal government has promised to contribute 50 per cent of the costs of Australia's third Summer Olympics.

Colbeck admitted it had been blindsided by a Queensland government announcement of an A$1b rebuild of Brisbane's Gabba cricket ground.

"It'll probably be a bit more than five (billion), given the infrastructure for transport and the infrastructure for the Games," Colbeck told Brisbane radio station 4BC.

"The Gabba announcement was a bit of a surprise."

The Brisbane bid had placed great emphasis on using existing venues to stage the Games, including the rebuilt Gabba. - REUTERS