The demolish-and-rebuild plan for the Gabba is dead, scrapped after the backlash over cost became politically untenable. Organizers also rejected the independent review's own recommendation of a new stadium in city parklands.
So, back to square one. Eight years out, and the single most talked-about Olympic venue decision has now been reversed twice, plan announced, plan reviewed, plan rejected, with no clear replacement locked in yet.
I'll say what I said back in January. This is exactly why I don't build an investment thesis around a specific venue outcome. The precinct gets infrastructure spending regardless of exactly where the stadium ends up. The stadium debate itself has become a lesson in how unstable a specific site decision can be this far out from the actual event.