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