Australian Olympic Committee boss says the Gabba only needs 'a coat of paint' to host Games as costs mount

The Gabba only needs "a coat of paint" to be ready to host the 2032 Brisbane Olympics and Paralympics, the boss of the Australian Olympic Commission has said.

The Queensland government has announced a $2.7 billion redevelopment of the stadium ahead of the Games as part of a larger $7 billion deal with the federal government, which will also build and upgrade other venues across the state.

AOC CEO Matt Carroll told the National Press Club on Monday that the Gabba upgrade would benefit other sports more than the Olympic and Paralympic games.

"Let's be honest, the infrastructure at the Gabba is for the AFL and cricket," he said.

"The Olympics and Paralympics will use it for a month, if they could just give it a coat of paint.

"Those sports will be the beneficiaries of a refurb, or a rebuild, of the Gabba."

A digital depiction of what the Gabba could look like by 2032.

Mr Carroll later issued a clarifying statement saying the AOC supports the redevelopment.

"That position hasn't changed," he said.

"The redevelopment sits within the IOC's New Norm parameters along with other projects that will deliver a long-term benefit to the Queensland community, such as community sports centres."

The New Norms are a set of reforms aimed at optimising the Olympic Games – they include focusing on long-term developments and optimising existing infrastructure.

"The AOC has long maintained the Gabba redevelopment will largely benefit the Brisbane Lions and cricket — with the stadium to be used for a month to host Olympic and Paralympic Games events," Mr Carroll said.

The Gabba redevelopment was initially proposed to cost $1 billion.

Premier Annastacia Palaszczuk has attributed the project's $1.7 billion blow-out to increased commodity prices and the cost of demolishing the existing stadium.

The redevelopment will be funded entirely by the state government, under its deal with the Commonwealth.

When the partnership was announced in February, Prime Minister Anthony Albanese said he fully supported the Gabba redevelopment.

"The Gabba redevelopment is … about more than just the stadium, it's about the way the city functions," he said.

"It's all about urban redevelopment as well and making the city function and making it more liveable, the way that it works with the Cross River Rail project."