The Courier-Mail has reported that five senior Gold Coast 2018 directors, headed by Peters, will share more than AUD$650,000 (£356,000/$498,000/€406,000) in "retention payments" now that the Games are over.

They will receive 10 per cent of their annual salary for every year of service.

Gold Coast Mayor Tom Tate has called the bonuses "staggering" and claimed they would not pass the "pub test".

"In fact, you could get the whole pub drunk on just one of the bonus pay outs," he told The Courier-Mail.

The retention payments were introduced in 2013-2014 by the Gold Coast 2018 Board, chaired by former Queensland Premier Peter Beattie, in a move aimed at stopping key executives leaving before the Commonwealth Games.

Peters, appointed Gold Coast 2018 chief executive by the Government of Anna Bligh in 2012 after successfully leading the bid, had earned more than AUD$2.6 million (£1.4 million/$2 million/€1.6 million) in the role up until last June.

He stands to be paid a retention bonuses of more than AUD$300,000 (£164,000/$230,000/€187,000) once this year’s salary is taken into account.

Peters' AUD$543,000  (£297,000/$416,000/€339,000} pay packet last year included a base salary of AUD$436,000 (£239,000/$334,000/€272,000) plus a AUD$54,000 (£29,000/$41,000/€34,000) retention payment and another UD$53,000 (£29,000/$41,000/€33,000) in "post employment expenses".

Australian Prime Minister Malcolm Turnbull’s base salary is AUD$527,000 (£289,000/$404,000/€329,000), plus allowances.

"Payments to senior staff are not bonuses," Beattie said.

"It is a pair of handcuffs started under the LNP (Liberal National Party) when Jann Stuckey was [Commonwealth Games] Minister.

"In the CEO’s case, there was an independent report recommending a pay-rise.

"This was rejected and instead part of his existing salary was retained to keep him until after the Games.

"The retention payment was approved by the current Government so has bipartisan support."