Tasmanian Premier Peter Gutwein plans to speak with Commonwealth Games Australia chief executive Craig Phillips next week as part of the island state's quest to host or co-host the 2026 event.
It was revealed on Thursday the state government had written to Mr Phillips to formally request consideration to play a role in four years' time.
"We're engaged in a conversation with Commonwealth Games Australia in terms of what we might be able to do in terms of primarily co-hosting," Mr Gutwein said on Friday.
Mr Gutwein said he understood regional Victoria was putting together a bid.
"If regional Victoria is the leading bid in the country, why wouldn't we look to co-host with them?" he said.
"In terms of Tasmania, we have some of the world's best mountain bike assets. We have Lake Barrington in terms of rowing.
"There is no reason that sailing or road cycling could not be held here."
Mr Gutwein wouldn't name a figure when asked how much the state government was willing to spend to secure events.
The most recent Commonwealth Games in Australia, on the Gold Coast in 2018, cost some $1.8 billion.
Birmingham in England will host the games later this year. It was originally meant to hold the event in 2026 but it was brought forward when Durban in South Africa defaulted as 2022 host.
Mr Gutwein brushed aside criticism that Tasmania lacks the facilities and money to accommodate an event the size of the games.
"I am an aspirational premier. We are a state of the federation and we should be treated like a state of the federation," he said.
Tasmania's Labor opposition has labelled the bid a "pie-in-the-sky" fantasy.
