Premier Daniel Andrews made the shock announcement last month citing exponential costs.
Following confidential “good faith” discussions, Victoria agreed to pay the three parties a total of $380 million.
“All parties engaged respectfully and made appropriate concessions in order to reach an agreement,” the groups said in a joint statement. Appointed as mediators in the process were former New Zealand Judge, the Honourable Kit Toogood KC and the former Chief Justice of the WA Supreme Court, the Honourable Wayne Martin AC KC.
Victorian Premier Daniel Andrews made the announcement last month alongside Victoria 2026 Commonwealth Games CEO Jeroen Weimar, Victorian Deputy Premier Jacinta Allan and Victorian Minister for Regional Development Harriet Shing.In cancelling the regional Victorian Games on July 18, Premier Andrews cited a forecast rise in cost from $2.6 billion to between $6 billion and $7 billion.
During mediation the Commonwealth Games parties also agreed that the multi-hub regional model was more expensive to host than the traditional models.
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