Tasmania has decided not to go ahead with sinking a former navy vessel off its coastline, meaning the Gold Coast is next in line for the dive site.
According to News Corp, after initially losing the bid for ex-HMAS Darwin, the Glitter Strip was offered the vessel for around $12.5 million without a bid process.
Mayor Tom Tate is on board, but the state government is staying tight-lipped on whether it will cough up the funds to help pay for it.
A dive site is expected to inject around $10 million into the local economy every year.
An alternative plan to build underwater pyramids off the Spit is already in the works.