The 2023-2024 federal budget confirms that the Commonwealth Government will commit $3.4 billion to venue infrastructure for the 2032 Olympic Games in Brisbane. The budget for next financial year includes $36 million, with funding allocation ramping up to $583.8 million in the 2026-2027 financial year.
The Commonwealth Games, meanwhile, which will take place in regional Victoria in 2026, gets no mention in the budget papers.
The 2023-2024 budget also flags $16.3 million in funding for the Confederation of Australian Sport to host the World Masters Games 2029 in Perth, subject to a successful bid for the event.
According to the confederation, the event would attract 35,000 to 40,000 athletes, coaches, officials and volunteers from Australia and around the world to Western Australia and utilise 50 to 60 venues across the city.
The federal budget also includes $200,000 to support development of the government’s Major Sporting Events Strategic Investment Model to better quantify the social ad economic impacts of major sporting events.
Finally, the government will fund a $10 million grant program for Australia Day community events around the nation.
