At a total operating budget of $5.3 billion, the pitch document released on Friday suggests the cost could be off-set by a $1.7 billion contribution from the International Olympic Committee and $2.7 billion of domestic revenue, leaving a net cost of $900 million.

The Gold Coast Commonwealth Games last year had a net cost of $1.2 billion.

The feasibility study emphasises that the region could not make a bid for the Olympics unless key transport projects, outlined in an earlier People Mass Movement Study released by SEQ Mayors, were completed.

Rather than a single city making a bid for the Olympics, as has been traditional and recently seen many international cities struggling under the cost and consequences of a Games bid, the pitch compiled by the mayors suggests events could be held across Brisbane, the Sunshine Coast, the Gold Coast and inland.

Premier Annastasia Palaszczuk on Friday morning said the idea would need support from all levels of government.

"I've only just received the report and I'll be having a look at that over the weekend," she said.

"First and foremost, there would have to be agreement on all levels of government.

"Secondly, we would have to see a very strong contribution from the federal government, the likes of which we saw for the Sydney Olympics, and we have not had any of those conversations with the federal government.

"And thirdly, I don't think Queenslanders want an Olympics just concentrated in the south-east.

"We're a very big state and it would have to be inclusive of Queensland."

Brisbane lord mayor Graham Quirk said the International Olympic Committee's efforts to reduce the costs of Olympic Games in recent years first attracted the mayors to discuss the idea.

The pitch document suggests Brisbane would provide 21 venues, with the Sunshine Coast and Gold Coast each providing five venues, Ipswich and Toowoomba two,  and Redland, Moreton Bay and Logan council areas providing one venue each.

The Olympic village would be in Brisbane with satellite villages in the Gold Coast and at the Sunshine Coast.

"We were keen to see whether SEQ could deliver a cost-effective plan to host the Olympic Games by reusing the region’s existing facilities, and in turn, creating a catalyst for infrastructure delivery and job creation," he said.

“This study has shown that SEQ could mount a successful bid without the need to build venues just for an Olympic Games.

"In doing so, we would be able to keep costs to a minimum while maximising the potential benefits and legacies for the region.”

Gold Coast mayor Tom Tate, whose council left the Council of Mayors SEQ in the middle of 2018, said he welcomed the bid but would not support it financially.

He said if the bid was successful, the region's venues would be available.

"We've done our heavy lifting, we paid for, and ran, the 2018 Commonwealth Games," Cr Tate said.

"I'd rather see money going into roads, soccer fields, parks, koala habitat and beach protection.

"We won't be asking any ratepayer to pay towards a 2032 Olympic bid.

"Having said that, we certainly wish the SEQ Council of Mayors all the best.''

Logan and Moreton Bay councils also limited their interest in the bid to the transport feasibility study.

The feasibility report notes that 60 per cent of the venues needed for such a bid already exist across the south-east, with others predicted to be constructed before 2032 in line with community needs.

"There is a need for another stadium, but there is also on the planning board another stadium proposed, and we're talking here around a 20,000-25,000 person stadium, which could provide them temporary seating to get that up to around a 50,000-55,000 people stadium for an Olympic Games," Cr Quirk said.

Cr Quirk said the Commonwealth Games had been a "great demonstration" of the state's ability to deliver world-class events.

“Ticket sales for an SEQ Olympic Games would be at least five times greater and the value of the international exposure generated for our region would likely be in the billions," Cr Quirk said.

The 265-page report details extensive plans for the use of resources already established around the region, including new technology to expand temporary stadium seating.

Alongside the Olympic pitch document, the earlier report released by the council of mayors in January on mass movement identified more than 40 major transport projects that would be needed to support an Olympic bid.

Those projects would need to be undertaken well in advance of the 2031 bid to ensure the region had the infrastructure to support the influx of visitors for the Olympics.

Emphasising the Olympic legacy, the pitch document suggests the deadline of 2032 for an Olympics bid would push council, state and federal commitments to major transport projects that would protect the state from future gridlock.

Cr Quirk said transport upgrades were "critical" to an Olympic bid and a commitment to those projects was needed.

Federal opposition Infrastructure spokesman Anthony Albanese said Labor would look at any Games bid and work co-operatively with Queensland.

Asked about a potential stadium at the Mayne rail yards at Bowen Hills, Deputy Treasurer Jackie Trad said there were "lots of complications" and technical difficulties when it came to building platforms over significant railway yards.

"We're talking about a site that was being used as a stabling facility, a railway infrastructure asset for more than a century," she said.

"There's going to be a lot of contamination issues. This is also a site that is essentially a swamp, as well."

-with Felicity Caldwell