Sriranganathan is The Greens' candidate for the position at the Council elections set to take place in March next year.

He is against hosting the Games due to the costs involved, that include a AUD2.7 billion (£1.3 billion/$1.7 billion/€1.5 billion) rebuild of the Brisbane Cricket Ground.

"I don't think it's too late to pull out of hosting the Olympics," he told Westender.

"And even if it costs hundreds of millions of dollars to back out of those contracts, that would still save us money in the long term, because going ahead with hosting the Olympics will cost us billions that we arguably can't afford."

He says that if Brisbane does stage the event for the first time, his priority would be to ensure that facilities are sensibly located and that no money is wasted on building a new stadium.

The Brisbane City Council member claims that the overall impact of the Games is going to be negative.

Sriranganathan also believes that Queensland's Government has lied to the public over Brisbane 2032 preparations.

"I would note with relevance to the West End Peninsula, that the state Government spent over AUD160 million (£80.8 million/$103 million/€94.5 million) buying the glass factory site down along Montague Road for a media centre to then turn into public parkland after the Olympics," he said to Westender.

"And they lied to us.

"They lied to us because now we've seen them approve the Temporary Local Planning Instrument that will rezone most of that glass factory site for 90-storey high rises with a slim, thin sliver of Parkland along the river.

"The state Government bought that land, told the public it would be used for Parkland, and now they're rezoning it for 90 stories and are planning to sell that public land back to the private sector.

"They are using the Olympics as a smokescreen to supercharge gentrification and private property speculation and enrich their developer mates at the expense of long-term community interest."

Sriranganathan's financial concerns over the Games are similar to those that saw the demise of the Victoria 2026 Commonwealth Games. 

Victoria Premier Daniel Andrews announced last month that it was pulling out after claiming costs had risen from the original budget of AUD$2.6 billion (£1.3 billion/$1.7 billion/€1.5 billion) to AUD$6 billion (£3.1 billion/$4 billion/€3.6 billion).

Brisbane 2032 chief executive Cindy Hook made sure to distance the Olympics from Victoria 2026's capitulation and promised their was no threat to the hosting.