IOC president Thomas Bach speaks to the media in Brisbane. Picture: Glenn Hunt/AAP
IOC president Thomas Bach speaks to the media in Brisbane. Picture: Glenn Hunt/AAP

$950m boost for SEQ Olympic bid

A SOUTHEAST Queensland Olympic Games could land a profit after the International Olympic Committee revealed that it would chip in a more than anticipated $2.5 billion to get the 2032 Games off the ground.

IOC 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.

But a currency calculation error by the South East Queensland Council of Mayors has resulted in a potential funding windfall, which could lead to the Games securing a profit.

The council had been anticipating the IOC would provide $1.6 billion to the 2032 Olympic Games, but the IOC yesterday revealed that figure was the equivalent of about an extra $950 million.

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
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

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.

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

Dr Bach said he was "pretty impressed" with the planning that was already under way 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," he said.

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

The SEQ Council of Mayors is expected to confirm next year whether it will make a formal bid to host the 2032 Olympics.

The IOC will make a final decision on who will host the Games in 2025.



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