A meeting will be held shortly regarding Glasgow’s bid to host the 2026 Commonwealth Games.
The Scottish Government and the chair of Commonwealth Games Australia are expected to discuss the proposal within 72 hours.
Australian authorities have pledged “a multi-million pound investment” to finalise Glasgow’s bid to save the 2026 Games.
It comes after the Australian state of Victoria withdrew as host last year due to rising costs.
Glasgow hosted the Games in 2014, but the 2026 event was scaled back after years of difficulties for the competition.
Between 10 and 13 sports would be included, compared to 18 in 2014.
Earlier this week it was revealed that the UK government has offered £2.3m to cover safety and security costs for the privately funded event, but the Scottish government has asked for the same amount to be paid.
However, Holyrood politicians are still concerned about what minister Neil Gray called the “reputational risk and financial risk” of the candidacy.
Gray stressed that it would not be a carbon copy of the 2014 Games.
“This is a smaller version, with fewer sports on fewer sites, so there is both a reputational risk and a financial risk,” he said.
Commonwealth Games Australia has offered to make up any shortfall.
They have told both their Scottish counterparts and the Scottish Government that they are prepared to invest some of the compensation they received when the Australian state of Victoria cancelled its plans.
Ben Houston, chairman of Commonwealth Games Australia, said: “We recognise the model is different and that this poses financial and reputational issues, but we are confident.”
Commonwealth Games Scotland, which is behind Glasgow’s bid, has already welcomed the offer.
In a statement released earlier this week, they said the Australians’ willingness to invest and further alleviate concerns over perceived financial and reputational risks demonstrates that our cost-effective proposition is highly regarded within the global sporting and events community.
To save money, only four venues would be used, including Scotstoun Stadium and Tollcross International Swimming Centre.
Glasgow City Council is currently trying to make budget cuts, raising questions about whether there is any desire among the city’s residents to host the event again.
