It's been more than 900 days since Brisbane was announced as host for the 2032 Olympic and Paralympic Games, and the Queensland government is back to square one for its centrepiece stadium.

Premier Steven Miles ordered an independent review of major Olympic venues to end the division created by the $2.7 billion demolition proposed for the Gabba, and to find a better value for money option.

But the outcome has resulted in the state government landing back where it started — with $2.7 billion to spend on venues for the opening and closing ceremonies, and athletic events.

Only this option won't give Brisbane a new world class stadium by 2032.

Gabba's many shortcomings

Former lord mayor Graham Quirk and the two other panellists wrote in their Olympic venue review that Brisbane was in need of a top level, tier one stadium as the Gabba reaches the end of its "useful life" by 2030.

It detailed many of the Gabba's shortcomings including that it is not fit for purpose and isn't compliant with disability requirements.

An ambulance is unable to enter the field because of height restrictions, there are no female change or toilet areas, and AFL player facilities for visiting teams are "appalling", according to Mr Quirk.

The review put forward a proposal to build a new 55,000-seat stadium at Victoria Park, which would likely cost up to $3.4 billion.

The idea went down like a lead balloon and Mr Miles swiftly vetoed the pitch due to it being too expensive.

New stadium 'very, very hard to accept'

He instead announced a third option, that the state government was going to use that $2.7 billion to upgrade three existing stadiums.

Lang Park (Suncorp Stadium) will be used for the opening and closing ceremonies, the Queensland Sport Athletics Centre (QSAC) at Nathan will be revamped for athletics, and the Gabba will be given a modest enhancement.

Mr Miles previously vowed to adopt the Quirk review's proposal, but yesterday he conceded work on the alternative plan began weeks ago when he became aware of the direction the review was heading.

"I knew it was going to be very, very hard to accept a brand new $3.4 billion stadium," he said.

Labor has suffered a series of unfavourable polling results in the past year, indicating its heading for defeat, and was dealt a bruising weekend by-election result.

It lost the once-safe seat of Ipswich West to the LNP and suffered a 21 per cent swing to the LNP in Annastacia Palaszczuk's former seat of Inala.

With a state election looming in October, a new multi-billion-dollar stadium at Victoria Park was always going to be a hard sell to voters grappling with cost of living pressures.

'New norm' guidelines

The alternative plan also fits under the International Olympic Committee's "new norm" guidelines to use existing or already planned venues.

The Queensland government will now move to set up an independent infrastructure delivery authority to start delivering the main venues for the 2032 Games.

Legislation will have to be introduced and pass parliament in the coming months for the independent body to be established.