Gold Coast ratepayers won't be footing the bill to host an Olympic Games in South East Queensland.
There has been talk of putting in a joint bid for the 2032 Games, but Gold Coast City Council has drawn a line in the sand, refusing to contribute financially.
The city paid $255 million to host April's Commonwealth Games, and Council has decided it won't be contributing to another major international sporting event anytime soon.
Mayor Tom Tate said he is happy for our recently upgraded stadiums and facilities to be used for the Games though.
"We're at the level where we can host an event like the Olympics," he said.
The Mayor is concerned the cost of the Games will soar out of control though.
"I'm sure that we can deliver and do it, but security costs alone is going to be quite a lot of money," said Mayor Tate.
"My caution is to the State Government to look at their budget, because when London put their Games together it cost 22 billion pounds".