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The Gabba is the planned main venue for the 2032 Olympic and Paralympic Games.Credit:Queensland government

The state government is pushing back against the proposal but will ultimately be satisfied if the amount paid by each government for the Games’ infrastructure lands at an overall 50-50 split.

The new Gabba,a key part of Queensland’s pitch to the International Olympic Committee,would be the 2032 Olympic and Paralympic Games’ main venue and would host the opening and closing ceremonies.

Premier Annastacia Palaszczuk originally put the cost of demolishing the tired stadium and rebuilding it to a capacity of 50,000 – only 8000 more than its current limit – at $1 billion. More recently,the government has acknowledged it would cost more,with some estimates as high as $2.5 billion.

Cleaving the Gabba from an Olympics funding deal could insulate the Commonwealth if costs continued to blow out.

The 17,000-seat Brisbane Live precinct waspreviously estimated to cost about $2 billion.In October,this masthead revealed the US-basedOak View Group would bid to build and operate that venue at “minimal” cost to taxpayers.

The Gabba’s current site,home to sport since 1896,is constricted by busy Vulture and Stanley streets.Credit:Tony Moore

Before Brisbane was confirmed as the 2032 host,and before the estimated costs of the Gabba skyrocketed,then-prime minister Scott Morrisonsaid the federal government would cover half the Games’ costs if the Queensland government was successful in its pitch.

But the Albanese Labor government has talked around the 50-50 split,instead promising to “do our share”.

Federal Infrastructure Minister Catherine King has joined Treasurer Jim Chalmers in Brisbane to hold talks about the increasingly drawn-out Olympics funding agreement with Queensland’s acting premier,Steven Miles.

Speaking to reporters on Wednesday,King declined to go into specifics about potential funding models. She said it was unlikely an agreement would be struck that day.

The Gabba dwarfs East Brisbane State School amid concerns that students will be displaced by the stadium rebuild.Credit:Tony Moore

Earlier,a spokeswoman for King toldBrisbane Times both governments were “continuing to have co-operative discussions about investment in Olympic Games venue infrastructure”.

Miles earlier said the Queensland government was working on the basis that the federal government would provide a “fair contribution”.

To the state government,“fair” meant a split down the middle.

A decision by the Commonwealth to distance its purse strings from the Gabba would not torpedo the redevelopment,according to a person familiar with the discussions. This was because the state government believed the total cost of Games’ infrastructure would still be split 50-50,regardless of how each individual project was divvied up.

Aside from the funding,significant hurdles stand in front of the Gabba demolition and rebuild.

The inner-city footprint of the current venue is constricted by major thoroughfares – Vulture and Stanley streets. There is also concern the historic East Brisbane State School,which abuts the eastern end of the Gabba precinct,would need to be removed,leading to student disruption and displacement.

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