The City of Brisbane, Australia has been picked to host the 2032 Olympic Games.
The development was confirmed on Wednesday and the games will be returning to Australia 32 years after the 2000 Sydney Olympics.
Brisbane picked to host 2032 Olympics without a rival bid and will also stage the Paralympic games.
“This is a very proud day for Australia, make no mistake. I thank the IOC members for their confidence. Brisbane 2032 is genuinely committed to serving the ideals of the Olympic movement. The Olympic games is Brisbane will be in the most diligent, grateful and enthusiastic hands.
” I make this commitment to the athletes of the world we will provide you with an unforgettable experience.”
Said the Australian Olympic Committee President and IOC Vice President John Coates.
The 2032 Olympics, the third to be hosted in Australia after Melbourne in 1956 and Sydney in 2000, is estimated to cost $5bn.The majority of this is expected to be recouped through ticket revenue, domestic sponsorship and broadcast rights.