Australian state to pay $243 million for withdrawing as 2026 Commonwealth Games host

FILE PHOTO: Commonwealth Games - Closing Ceremony - Alexander Stadium, Birmingham, Britain - August 8, 2022 General view during the closing ceremony REUTERS/John Sibley/File Photo

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.