The Australian federal government and the Queensland state government said that they would spend a combined A$7.1 billion ($4.9 billion) to build new venues and refurbish existing ones ahead of the 2032 Olympics in Brisbane. The federal government will provide A$2.5 billion for the development of Brisbane Arena, a proposed 17,000-seat sports venue, while the Queensland government will fund the A$2.7 billion rebuild of the Gabba cricket ground. Sixteen new or upgraded venues will receive A$1.87 billion in co-funding on a 50/50 basis