NSW Government to spend more than $2 billion on Allianz and ANZ Stadium rebuilds

After months of media speculation the NSW Cabinet of Premier Gladys Berejiklian has today reportedly agreed to demolish and rebuild two of Sydney's major sports stadiums - the Allianz and ANZ Stadiums - at a cost of more than $2 billion.

Reversing plans announced by former NSW Premier Mike Baird and Sports Minister Stuart Ayres, the decision follows ongoing lobbying by the Sydney Cricket and Sportsground Trust and its influential members.

The decision, reported by Fairfax media, will see Allianz Stadium at Moore Park rebuilt with a capacity of 45,000 people and ANZ Stadium at Olympic Park with a capacity around 80,000.

The plan reportedly proposes that Allianz Stadium would be demolished and rebuilt in 2018 and ANZ Stadium the following year.

The $2 billion price tag to rebuild the venues does not include the cost of rebuilding Parramatta Stadium.

This development, which is currently underway was the first part of last year’s $1.6 billion plan, which then had a rebuild of ANZ Stadium scheduled with any remaining monies going to an upgrade of Allianz Stadium.

The shelving of this plan will see the NSW Government spend at least $2 billion on rebuilding the venues, the oldest of which, Allianz Stadium, is just 30 years old.

The rebuilds will be funded through the $2.6 billion sale of the NSW Land and Property Information Service.

An official announcement on the projects is expected from the NSW Government tomorrow. 

Images: Previously released plans for the redevelopment of Allianz Stadium (top) and ANZ Stadium (below).

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