BrisVegas 2032 Could Be The El Cheapo Olympics, For The Bargain Price Of $900M
Beautiful one day, affordable the next.
Brisbane's bid for the 2032 Olympics just got a step closer to reality.
In October last year, Australian Olympic Committee chief John Coates told International Olympic Committee president Thomas Bach that Brisbane’s bid for the 2032 Olympic Games should be considered a serious proposition.
That proposition just got a whole lot more serious after a report to be released on Friday said that Brisbane could do the Olympics for as little as $900 million -- by using established venues within the city in conjunction with existing venues on the Gold and Sunshine Coasts.
Billlions of dollars in transport and road infrastructure -- which are needed anyway in SE Queensland, and which would be needed to make the Olympics a reality -- would not be included in the cost of staging the event.
The feasibility study was first commissioned by the South East Queensland Council of Mayors in 2016, and will be released today. According to the Courier Mail, the report says the Games would cost $5.3 billion to stage.
Around $4.4 billion of revenue would be raised from global broadcast rights, worldwide and domestic sponsorships, merchandise and the sale of six million tickets.
That leaves a loss estimated at $900 million -- $400 million for the Olympics and $500 million for the Paralympics.
By comparison, last year's Gold Coast Commonwealth Games cost $1.2 billion to stage, so under these figures, a Brisbane 2032 Olympics would actually be cheaper.
Early indications are that neither of Brisbane's two current major stadiums -- Suncorp or The Gabba -- would be used for the opening and closing ceremonies and athletics events.
Instead, a new small boutique stadium of around 30,000 capacity would be built, with seats added during the Games and removed afterwards.
Brisbane already has several state-of-the-art facilities for Olympics sports, such as the Anna Meares Velodrome, which was completed in 2016.
More to come.