Victoria has confirmed it will bid to host a regional-led 2026 Commonwealth Games after entering into exclusive negotiations.
Victorian Premier Daniel Andrews said the government's submission was to have the games held predominantly in regional Victoria.
"Victoria is Australia's sporting state, and, if awarded the 2026 Commonwealth Games would demonstrate to the world a new way to deliver the competition," he said.
"We would hope to have the majority of events in our regional cities - to display the best of Victoria, create job and housing and infrastructure that will deliver for the long term."
Mr Andrews said work was underway to establish the detailed costs and benefits to the state.
Regional development minister Mary-Anne Thomas said it would be a great opportunity to showcase all that regional Victoria has to offer.
"We are very blessed here in regional Victoria with the cultural and environmental experiences, our food and wine is second to none and this will be yet another major event that will enable more people to come and discover all that," Ms Thomas said.
"The financial benefits of this of course will be enormous when it comes to job creation, investment in our regions and the legacy benefits including housing will be very significant.
"It's a great day, across regional Victoria people would be cheering us on as we take the next step in progressing this bid."
Warrnambool mayor Richard Ziegeler says the city council will consider the possibility of hosting some Commonwealth Games events if appropriate financial support was available.
Warrnambool was named in an original proposal by the Greater Victoria taskforce several years ago as a potential venue for a road cycling event.
Cr Ziegeler said the council had not discussed the possibility but the prospect had "potential" and would be considered if external funding and community support was available.
"Within council and the wider community we certainly have a great deal of expertise in organising and hosting large sporting events," he said.
"The Melbourne to Warrnambool Cycling Classic is one example of our community demonstrating expertise in staging a successful major road cycling race.
"In Reid Oval we now have a superb playing field and pavilion that could host T20 cricket, which is in the schedule of sports to be played at this year's Birmingham Commonwealth Games.
"We've also got great lawn bowls venues, a shooting range and natural attributes that suit triathlons and beach volleyball. So there is potential for Warrnambool to have a role but there would be a lot of work required before any commitment was made.
"It's one thing to be ambitious and audacious in thinking Warrnambool could be a player in the Commonwealth Games - but there would need to be a lot of research and consultation to ensure that any commitments made were in the long-term interests of Warrnambool."
About 65 per cent of The Standard readers said they want Warrnambool to host some events.