Regional Victoria will become the centre of the international sports universe after the state won a one-horse race to host the 2026 Commonwealth Games.
The multi-sport event will be held across the state in four years' time, Premier Daniel Andrews confirmed on Tuesday.
It is the first Commonwealth Games to be awarded to a state or region, with only cities previously selected throughout its 92-year history.
Four hubs will be set up in Geelong, Bendigo, Ballarat and Gippsland - each with their own athletes' villages - and Shepparton is also slated to host events.
The regional centres will host the entire program apart from the opening ceremony, which has been locked in for the 100,000-capacity Melbourne Cricket Ground.
Mr Andrews said the event would be like no other and showcase what the state has to offer.
"We're not just doing a re-run. It's not going to be the same as it's ever been," Mr Andrews told reporters at Mars Stadium in Ballarat, which will be upgraded.
The Games are estimated to inject $3 billion into the state economy, create 7500 jobs pre- and post-event, and boost sports and affordable housing infrastructure.
Mr Andrews said the cost of hosting the 2026 sports extravaganza will be revealed in the upcoming state budget, due to be released on May 3.
"It'll cost a substantial amount ... but I don't see it as a cost," he said.
No funding has been set aside by the federal government, in caretaker mode ahead of the May 21 election, but Mr Andrews would welcome any contribution.
Commonwealth Games Federation President Dame Louise Martin said an initial list of 16 sports has been selected, including T20 cricket and rugby sevens.
Further sports will be added later in the year.
Hosting rights for the 2026 event hit the market after the English midlands city of Birmingham replaced South Africa's Durban as host of the 2022 Games, to be held from July 28 to August 8.
With no other bidders, it was a considered a fait accompli Victoria would secure the event after the state government entered exclusive negotiations with the Games' governing body in February.
Victoria Tourism Industry Council chief executive Felicia Mariani said the formal announcement was the crowning glory of record-breaking events season in Melbourne.
"We have well and truly left the mantle of 'the world's most locked down city' behind us," she said.
Opposition Leader Matthew Guy said the Victorian Liberals and Nationals supported the concept of a regional-focused Commonwealth Games in principle.
"We don't support just a blank cheque to do anything at anytime but what we do support is a sensible plan," he said.
The Games last came to Victoria in 2006, when Melbourne played host. It is the sixth time the event has been held in Australia, most recently on the Gold Coast in 2018.
WHERE 2026 COMMONWEALTH GAMES EVENTS WILL BE HELD:
Aquatics (Swimming, Para Swimming and Diving) - Geelong
Athletics and Para Athletics - Ballarat
Badminton - Gippsland
Beach Volleyball - Geelong
Boxing - Ballarat
Cricket T20 - Geelong, Gippsland, Ballarat, Bendigo
Cycling - Gippsland to Bendigo
Gymnastics - Geelong
Hockey - Geelong
Lawn Bowls and Para Lawn Bowls - Bendigo
Netball - Bendigo
Rugby Sevens - Gippsland
Squash - Bendigo
Table Tennis and Para Table Tennis - Geelong
Triathlon and Para Triathlon - Geelong
Weightlifting and Para Powerlifting - Bendigo
© AAP 2022
Photo: Victorian Premier Daniel Andrews speaks to the media during a press conference at Mars Stadium in Ballarat, Tuesday, April 12, 2022. Victoria has officially been announced as the host for the 2026 Commonwealth Games. (AAP Image/Con Chronis)