Australian Sports Commission chief executive Kieren Perkins has called for urgent funding in the AIS as fears grow of a sporting wipeout at the 2032 Brisbane Olympics.
The comments came after a government report released on the weekend finally put to bed squabbling over where the high-performance facility should be located.
Perkins was pleased the report confirmed Canberra remains the optimal location and said the focus must now turn to developing the facilities required to produce the next generation of Olympians.
"There is no doubt from our end that we are already behind schedule in needing to ensure all athletes who are preparing for the opportunity to compete in Brisbane 2032 have got what they need," Perkins said.
"In the Olympic and Paralympic cycle, it's a minimum of eight years. All the kids that are out there now in that 12-15 age group who are developing and building their skills, they will be the ones competing for us in '32 and they need our support now."
Facilities across the board have fallen in standard at the Bruce venue as successive governments have failed to adequately invest in the high-performance facility.
As a result, Perkins said there was no specific area of priority for investment but did single out accommodation as a focus to ensure elite athletes and national teams return to Canberra for training camps.
The chief executive was unwilling to put an exact dollar figure on the cost of upgrading the AIS as he continues to work closely with government officials to outline his vision for the venue ahead of an expected funding announcement in the May budget.
Freedom of information documents revealed last year it would cost $200 million for a complete renovation of the facility. The figure is likely to have risen since than as a result of inflation and rising construction costs.
When pressed on how much he will seek from the government, Perkins said he will push for as much funding as possible to provide the best opportunities for athletes.
"The reality is, if you gave me $50m, I'd be able to do extraordinary things with it," he said.
"If you gave us $200m, that would be great. If you gave me half a billion, well guess what? We're in a great position.
"How long is a piece of string? We'll have to prioritise based on what the review lets us prioritise and the decision of the federal government about any funding that might be coming."
While the budget is increasingly tight, there has been a push to fund investment in high-performance sport to ensure Australia enjoys a successful medal haul at the Brisbane Olympics.
Perkins is optimistic talks with the government will be fruitful as he races to catch up to well-resourced rival nations looking to rain on Australia's parade in 2032.
"If you compare us to similar institutes and academies globally, most of which were created off the back of what we did here and very significantly copied the model of the facilities of the AIS," he said.
"Those facilities have tended to be [regularly] invested in or are new. I would suggest in that regard, we're probably behind more [countries]."
Perkins also provided an update on the state of the AIS Arena, with the venue on track for a May opening.