Queensland Premier Annastacia Palaszczuk says Brisbane could find out as soon as July whether it has won the rights to host the 2032 Olympic games.
This comes as the state government has struck a 50-50 infrastructure funding deal with the federal government for Brisbane's 2032 Olympics bid.
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The Queensland government welcomes a federal funding deal for Brisbane's 2032 Olympic bid, but wishes the Commonwealth "would just get on with it".
Prime Minister Scott Morrison has agreed to a 50-50 funding arrangement for infrastructure including stadiums, venues and roads for the Games in 11 years time.
The deal was struck on Monday afternoon, just more than an hour before the 5pm deadline for guarantees to be sent to the International Olympic Committee.
As part of the agreement, a jointly owned, funded and run Olympic infrastructure agency will be set up to oversee all projects.
"Our offer is for a genuine partnership, with shared costs and shared responsibilities, working together to make this the best Olympics on record," Mr Morrison said in a statement.
"This takes the Olympics out of the day to day politics.
"It provides a platform for bipartisan support at every level of government and let's those who we will jointly appoint to get this job done, to just get on with it."
It comes after the Queensland Premier last week unveiled plans for a redevelopment of the Gabba, which will be expanded by 8000 seats to 50,000 seats in a move set to cost more than $1 billion.
The plan is to make the iconic cricket venue the centrepiece of Brisbane's Olympic Games, if the Queensland capital's bid is successful.
QLD Premier relieved to make deadline
Ms Palaszczuk backs an Olympic infrastructure agency, saying she's just relieved to have sent the guarantees to the IOC in time.
She also welcomes the federal funding after calling for the arrangement for at least two weeks, saying both levels of government are great at delivering infrastructure.
"There's always an independent agency, so what happens is once the Olympics is awarded the independent agency is essentially set up and it's set up in statute," the premier said.
"We're actually working through that at the moment, legislation that the state would be required to put in at the end of the year once we are announced as being successful, hopefully as soon as July."
Ms Palaszczuk said the IOC president Thomas Bach and lawyers had gone through the Brisbane bid's guarantees on Monday night and the games would be "good to go".
"I thank the Prime Minister for getting me such a prompt response," she said.
"He met the deadline, that's the main thing. Just get on with it, come on.
"Anyway it is going to be great, it means that the Gabba redevelopment can happen, community facilities can happen and the road projects can happen that we need.
"We do this around Queensland with a whole range of projects, and we can definitely do it when it comes to the Olympics.
"So it will set Queensland up for decades to come. So Sydney had its time to shine, and in 2032, Brisbane, Queensland, it's going to be fantastic."
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