Premier Daniel Andrews has confirmed the 2026 Commonwealth Games in Victoria will not go ahead.
The premier said the cost of hosting the games was not the $2.6 billion as budgeted, but expected to be $6-7 billion dollars at least.
Andrews said the Commonwealth Games authority had been informed of the decision.
The $2.6 billion allocated to cover the cost of the games remains unspent according to the premier.
These funds will instead be allocated via a regional development and tourism fund also being announced on Tuesday.
