Multi-billion-dollar plans to prepare Brisbane for the 2032 Olympic and Paralympic Games have been abandoned, just hours after a 60-day infrastructure review led by Graham Quirk released its findings.

The $2.7b Gabba demolition, and a new proposed $3.4b stadium at Victoria Park, have both been axed.

The Queensland government will instead upgrade Lang Park, revamp the Queensland Sport and Athletics Complex (QSAC), and refurbish the Gabba stadium.

"Suncorp will become our Olympic stadium," Premier Steven Miles declared.

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