The State of Victoria has agreed to pay the Commonwealth Games parties $380 million in compensation after pulling out of the 2026 regional event.
The State of Victoria will pay $380 million in compensation after cancelling its plans to host the gamesThe Victorian government has reached a compensation settlement after pulling out of hosting the 2026 regional games.
The state government has agreed to pay the Commonwealth Games Federation , Commonwealth Games Federation Partnerships and Commonwealth Games Australia $380 million. In July, Premier Daniel Andrews announced Victoria would no longer host the games due to spiralling costs. Negotiations on compensation were referred to mediation with former New Zealand judge Kit Toogood KC, and former chief justice of the WA Supreme Court Wayne Martin KC.
A joint statement said the parties also agreed the multi-hub regional model was more expensive to host than traditional models.The statement said the parties were legally bound not to speak further regarding the details of the settlement, but a state government spokeswoman said Daniel Andrews would hold a press conference later today.
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