Queensland state officials say they have secured a deal with the Australian federal government for the 2032 Olympics in Brisbane that commits 50/50 funding for minor venues and $788 million toward a new main stadium at Brisbane's Victoria Park.

Queensland state officials say they have secured a deal with the federal government for the 2032 Olympics in Brisbane which commits 50-50 funding for minor venues and 1.2 billion Australian dollars ($788 million) towards a new main stadium at Brisbane’s Victoria Park.

The Australian government has confirmed it will contribute A$3.435 billion ($2.25 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.