Victoria to pay $380m compensation for cancelling 2026 Commonwealth Games
www.abc.net.au
The State of Victoria has agreed to pay the Commonwealth Games parties $380 million in compensation after pulling out of the 2026 regional event.

Part of me is inclined to say might as well keep going with the games, but then I think sunk cost fallacy.

Does anyone even care about the commonwealth games?

  • cuavas@aussie.zone
    ·
    1 year ago

    Victorian Labor has a nasty habit of signing up for things they can’t afford, and then hoping the federal government foots the bill.

    Also, this should really put into perspective how small the $5M settlement for COVID lockdown is in the scale of things.

    • cooopsspace@infosec.pub
      ·
      1 year ago

      Im sure they actually discussed it beforehand, no hoping here.

      And it was affordable until inflation and crippled building industry kicks in.

      • cuavas@aussie.zone
        ·
        1 year ago

        No, they made assumptions about receiving funding from the federal government and local councils without receiving any commitments: https://www.smh.com.au/politics/victoria/victoria-banked-on-getting-200m-in-federal-funding-when-it-bid-for-games-20230820-p5dxyt.html

        It was never going to be affordable given how much security would cost with it split across regional areas. It was always going to saddle the regional areas with the cost of maintaining sports facilities they’ll never fully utilise.