The Victorian Government will pay $380 million in compensation for backing out of a deal to host the 2026 Commonwealth Games.
Premier Daniel Andrews announced the stunning backflip last month claiming the cost of the Games had gone from $2.6 billion to a likely $6-$7 billion.
“The parties also agreed that the multi-hub regional model was more expensive to host than the traditional models. This week Victorian MP David Limbrick was appointed as chair of a parliamentary committee made up of three government MPS, three Liberal MPs and three crossbenchers to probe the cancellation of the Games.
Mr Andrews had insisted on hosting the 2026 Games across a series of regional hubs which blew the costing out and forced the termination of the deal. Mr Andrews was warned about the extra costs associated with building new and temporary infrastructure in rural areas but he had planned for the Games to be a legacy investment.
“What we’re going to do instead of proceeding with games that would cost $6-7 billion we will not have the games and instead today we’re announcing a regional package of over $2 billion,” he said.
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