Brisbane is a stronger commercial option than Sydney for the NRL grand final, Peter V'Landys told News Corp.
He said, "Even with 20,000 fewer seats, we make more money here than we do in Sydney."
V'Landys said loyalty to NSW Premier Chris Minns, sports minister Steve Kamper and Queensland Premier David Crisafulli made the choice difficult.
"It's going to be a hard decision."
Sydney is not assured of hosting the 2027 final: its NSW government deal ends in 2026, and the NRL is preparing a tender focused on short-term contracts.
A possible 2028 clash with a papal visit expected to draw up to 400,000 people could strain Sydney's policing and transport systems.
NSW wants to keep the final, but Queensland has a long-term Magic Round deal. One Origin game will continue outside Sydney and Brisbane, with Auckland hosting in 2027.
Queensland, Victoria and Western Australia are also interested; the NRL has set no decision timeline.