Melb port sale deal closed for $9.7b

The sale of Melbourne's port lease has been officially closed, with $9.7 billion landing in Victoria's bank accounts on Monday.

Victoria's bank account is about to get a nice bump before pay day - $9.7 billion from the sale of the Melbourne port lease is landing there on Monday.

Financial close on the 50-year lease deal has been achieved, with a consortium led by the Future Fund and QIC winning the bid for the port.

"We receive that money and we will put it to work immediately. It will go straight into the Victorian Transport Fund," Treasurer Tim Pallas told reporters on Monday.