Australia's Gold Coast has scrapped its last-ditch bid to hold the 2026 Commonwealth Games, leaving the event in limbo as organisers race to find a willing host. 

The Australian state of Victoria was originally slated to host the Games, but unexpectedly pulled out in July this year citing an eye-watering cost blowout. 

The Gold Coast, a beachside city of some 600,000 people in Queensland, offered to step in -- but only in the unlikely event the federal government helped foot the bill. 

With officials unimpressed by the idea, mayor Tom Tate said his bid to rescue the Games was over.

"We did our best and that's all people can expect," he said in a statement to Australian media on Sunday night. 

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