SYDNEY (Reuters) - Australia's Victoria state will pay A$380 million ($243 million) to Commonwealth Games organisers, Victoria Premier Daniel Andrews said on Saturday, after it withdrew as 2026 event host citing a projected cost blowout.
Victoria in July pulled out of hosting the quadrennial multi-sport event, which was to have been held in four regional hubs, with Andrews saying costs could have ballooned to more than A$7 billion from a budgeted A$2.6 billion.
In a joint statement issued by Andrews on Saturday, the Commonwealth Games Federation, Commonwealth Games Federation Partnerships, Commonwealth Games Australia and Victoria said they had"settled all their disputes regarding the cancellation of the multi-hub regional Victoria 2026 Commonwealth Games".
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