Victoria state, Australia, will pay A$380 million ($243 million) to Commonwealth Games organizers.

Victoria withdrew as the host of the 2026 Commonwealth Games due to projected cost overruns.

The event was planned to be held in four regional hubs, with costs potentially reaching over A$7 billion instead of the budgeted A$2.6 billion.

The event was planned to be held in four regional hubs, with costs potentially reaching over A$7 billion instead of the budgeted A$2.6 billion.

The withdrawal of Victoria as the host has raised concerns about the Games potentially not taking place, a situation not seen since WWII.

The Commonwealth Games Federation, Commonwealth Games Federation Partnerships, Commonwealth Games Australia, and Victoria have settled disputes related to the cancellation.

The parties have agreed to the payment of AUD $380 million by the State of Victoria.

It was acknowledged that the multi-hub regional model would have been more expensive to host compared to traditional models.

Canada's Alberta province also recently withdrew support for a bid to host the 2030 Commonwealth Games.

For more such interesting stuff, click on the link given below