Hamilton city council is once again looking at hosting the 2030 Commonwealth Games — only 18 months after it decided it wasn't interested.

Councillors voted unanimously Wednesday to look at potential drawbacks and benefits of hosting the sporting event, which Steeltown hosted first in 1930. Some even did an about face from the debate in September 2017.

"I know I called previous bids a basket of lunacy," said Sam Merulla, Ward 4 (east end) councillor. "Now I think this is a basket of opportunity."

The main change from 18 months ago is local business owner P. J. Mercanti, who said there's a collective willing to pay for the bid.

Mercanti is CEO of Carmen's Group, which owns a hotel and manages the Hamilton Convention Centre. He said the group includes Sport Hamilton and some McMaster University leaders, as well as other businesses.

A champion rower named Bob Pearce heads out for practice at Leander Boat Club during the 1930 British Empire Games, with coach Bob Hunter. (British Empire Games commemorative book)

That group would pool together as much as $1 million for a bid. Mercanti said it'll wait for the city report first.

If Hamilton did host, it would be a blast of nostalgia. Hamilton hosted the first version of the games, then known as the British Empire Games, in 1930.

And councillors talked up getting some potential sports facilities. Hamilton hosted the soccer games for the 2015 Pan Am Games, and got the $150-million Tim Hortons Field for a $40 million contribution.

Some of the drawbacks from 2017 remain though. Councillors balked at the potential hosting cost then. Brian MacPherson, CEO of Commonwealth Games Canada, told them costs vary for host cities. Glasgow, Scotland spent as much as $300 million Canadian on the games.

It costs about $1.5 billion to host the games, MacPherson said. The federal government has indicated it would pay as much as 50 per cent of the hosting cost, he said. But the other half would likely be divided between the province and the city.

"We need to get excited about sports," says Coun. Esther Pauls. She co-owns The Runner's Den in Westdale. (Samantha Craggs/CBC)

Mercanti said his group's offer only extends as far as the bid and a business plan.

"We want to analyse the opportunity, crunch the numbers, and recognize what drivers need to be in place," he said.

John-Paul Danko, Ward 8 (west Mountain) councillor, urged city staff to keep track of the hours they spend on the report. Staff time isn't free, he said, and that would be an in-kind contribution.

The bid had a champion in Esther Pauls, Ward 7 (central Mountain) councillor, who co-owns The Runner's Den in Westdale. She moved getting a report from staff, and Mayor Fred Eisenberger seconded it.

The city gets excited about Supercrawl, which was discussed earlier in the meeting. "We need to get excited about sports."