Chesterman claimed that Australia's National Federations were already financially stretched and that groundwork for the Games in nine years' time needs to be laid now.

"It is clearly understood that a successful home Games requires a successful home team," he said at the AOC Annual General Meeting in Sydney.

"But the clock is ticking and the strain within the system is showing.

"We come off a hugely successful Tokyo Games, but that is nearly two years ago, and the system that helped to produce those performances is understandably struggling.

"Everything is going up, except the funds to run the programmes.

"Results also don't come at the flick of a switch, so if Australia is to have a successful team in Brisbane 2032, the system, the people, that took us to that success in Tokyo need nurturing now." 

Chesterman stated that funding athletes for Paris 2024 is the most expensive of any edition of the Games so far, with inflation and the rise in plane travel costs having particularly large impacts. 

The AOC has a AUD25 million (£13.4 million/$16.9 million/€15.4 million) budget for the event and an extra AUD1.1 million (£589,000/$743,000/€678,500) in case of increased air fares.

Chesterman claimed that the AOC was increasing its financial support of Olympic sports that receive little to no Government funding.

The summer sports that fell into that category will have funding boosted by 25 per cent in the quadrennial period between Games, while winter sports in that situation will have support lifted by a half.

"We've not set the time frame of when we'll receive that boost in [Government] funding, I think everyone recognises the need to boost funding, whether it's this cycle or next cycle, we'll have to wait and see," Chesterman said.