Prime Minister Scott Morrison has guaranteed the federal government will cover half the cost for the 2032 Olympic Games, should frontrunner Brisbane be confirmed as the host.
The pledge was contained in a letter from Mr Morrison to Queensland Premier Annastacia Palaszczuk, which arrived late on Monday afternoon.
Ms Palaszczuk welcomed the funding commitment, saying the 50-50 funding agreement for Games infrastructure made the Brisbane bid more attractive.
“This is what I asked the Prime Minister for,” she said. “This is great news for Queensland.”
Ms Palaszczuk said Queensland had agreed to form a new Olympic infrastructure agency, jointly run by the state and federal governments, which would evaluate all venues and infrastructure spending.
“I always say we work best when we work together. This proves it,” she said.
Mr Morrison said his offer to sign the agreement to jointly fund critical infrastructure was subject to that 50-50 shared governance model, with full oversight of all projects from the planning, scoping and design phase through to contracting, construction and delivery.
“We have always believed in the potential of the 2032 Olympic Games for Queensland and Australia and it’s important we maintain momentum to win this bid,” he said.
“Backing the Queensland bid means more jobs, better infrastructure and more tourism dollars.
“Just like the Sydney 2000 Games, the Queensland bid has the opportunity to reshape our country, but all levels of government must work together and take the politics out of each decision.
“This needs to be the people’s Games.”
Brisbane lord mayor Adrian Schrinner said the announcement was the final piece in an Olympic jigsaw that began six years ago.
“This federal funding agreement is far more generous than what was offered to Sydney for the 2000 Olympics and it’s a massive win for Brisbane and Queensland,” he said.
“A successful Olympics bid will bring unparalleled benefits to our region, catalysing the development of much-needed infrastructure, boosting our local economy and providing jobs for residents, all while putting the world’s eyes on Brisbane.”
The federal government will guarantee tens of millions for 2032 Olympic security, visa assistance, plus taxation issues in a further sign Brisbane is inching ever closer to hosting the 2032 Olympics and Paralympics.
The federal government has asked for both Fairfax MP Ted O’Brien and Sport Minister Richard Colbeck to be included on the three-government Olympic bid team, which the state government has indicated it would accept.
The security bill from the federal government for the 2018 Commonwealth Games on the Gold Coast was $34 million. The Queensland government separately tipped in $46.7 million for a new counter-terrorism unit and 30 specialist police.
Mr O’Brien, a Sunshine Coast federal MP and Mr Morrison’s representative on the three-government taskforce guiding the bid, said the federal government would provide security guarantees by Tuesday.
“I am supremely confident that the guarantees required of the federal government will be confirmed,” Mr O’Brien said.
“These include issues of security, visas, immigration, taxation and so forth.”
The International Olympic Committee has sought assurances from the three levels of government supporting the Queensland bid, including Brisbane City Council, the South-East Queensland Council of Mayors, and the state and federal governments.
Those assurances were required by Tuesday.
The IOC has not made a final decision on the 2032 host, but Brisbane remains the preferred city.
The federal government has provided $10 million for the bid to be prepared.
Cybersecurity was expected to be a major cost for the 2032 Olympics.
One government source said cybersecurity was going to be “a huge deal” at the 2032 Games.
Ms Palaszczuk announced last week the Gabba would be redeveloped at a cost of about $1 billion as the major stadium for the 2032 Games.
She said the Gabba, which has been home to Queensland sport including cricket and AFL for 126 years, would host the opening and closing ceremonies.
Australian Olympic Committee president John Coates and Paralympics Australia president Jock O’Callaghan briefed Brisbane councillors on the bid last month.
All councillors, except for The Gabba ward Greens councillor Jonathan Sri, voted in support of the bid.