A South East Queensland bid for the 2032 Olympics remains a possibility after Premier Anastasia Palaszczuk and Australian Olympic Committee president John Coates held "excellent and very fruitful" meetings with the International Olympic Committee in Switzerland.
The duo was part of a delegation that travelled to Europe to further discuss a potential bid from the region and what it would take for the Games to return to Australia for the first time since 2000.
A new stadium would likely have to be constructed for the bid to succeed but it would not have to have an 80,000-seat capacity, Coates confirmed.
"The maximum is 60,000, that's what's been provided in Tokyo, that's what London provided," he said.
"And that could be a stadium that could reduce to a lesser amount afterwards, depending on what the legacy is going to be - no requirement for 80,000."
Queensland's desire to host the Games increased after the Gold Coast's successful staging of the 2018 Commonwealth Games.
The Gabba, which is situated in Brisbane, had been identified as a potential Olympic Stadium but Coates conceded it would need significant work to be able to do so.
"I think there'll be something developed for athletics and the ceremonies, there is an option with the Gabba," he said.
"But probably, I think, a new stadium has to be prepared, but similar to the way that it was done with London, it could reduce to something afterwards.
"The days of 80,000, the days of 115,000 for Sydney is not required."
The potential Queensland bid received praise from IOC president Thomas Bach while Queensland Premier Palaszczuk noted that the state already had 85 percent of the necessary venues covered.
"We are even more impressed than I was already during my recent visit in Brisbane and Queensland when we could see how advanced the preparations were already at the time," Bach said.
"We have seen further progress here today when the project has been presented.
"This project has all the ingredients to become a successful candidature."
Australia last staged the Olympics in 2000 when Sydney played host to what then IOC president Juan Antonio Samaranch described as the "best Games ever."
Coates said it was time Australia again hosted the Games, citing the Sydney Olympics' impact on the nation's overall sporting landscape as a key reason for doing so.
"Australian sport needs another impetus; it's 32 years since we had the Games and we know what an impetus that was across a whole range of sports," he said.
"Increased participation, there'll be venues, the venues that have been talked of, the new ones, they're all community venues that will be created in the most part, before the Games, they'll be used by communities, they'll be transformed for the Games and then they'll go back to the communities afterwards."