ANZ Stadium's $350 million redevelopment plan Sydney's ANZ Stadium redevelopment plans A $350 million redevelopment plan for a fully-roofed ANZ Stadium would enable sports fans to sit within five metres of the action, with new grandstands turning Sydney's biggest venue into a true rectangular ground. Under the ambitious plan revealed to The Daily Telegraph, the former Olympic stadium would also be surrounded by a dynamic entertainment zone filled with bars, cafes and restaurants. An artist's impression of the ANZ Stadium redevelopment / Picture: Supplied Source: Supplied While the stadium's ­capacity would remain above 80,000, the venue's top-level seating tiers could be curtained off using a hi-tech lighting system to create a more intimate atmosphere for smaller matches. The design includes a ­retractable roof made of a translucent membrane which allows sunlight through and is capable of closing in 20 minutes. It would weatherproof all events and allow the stadium to attract more big music acts. ANZ chief executive Daryl Kerry said the plan would give Sydney "one of the greatest sports and entertainment stadiums in the world." The stadium's private-sector owners and operators are lobbying the Baird government for about $250 million to modernise the 15-year-old venue. It is understood the stadium owners, Stadium Australia Group, would be prepared to put in $100 million if its ownership lease is extended beyond 2031 when it is due to hand back the venue to the government. The stadium, built as the athletics arena for the 2000 Sydney Olympics, is often criticised for not having enough seats close to the action. But Mr Kerry said the seating at both ends of the ground would be replaced with double-deck stands, which could be moved to within five metres of the field to create a perfect rectangle for rugby league, rugby union and soccer. He said fans would be as close, if not closer, to the action behind the goals than they were at Moore Park's Allianz, Brisbane's Suncorp and London's Wembley stadiums. ANZ would still be able to be configured into a circular ground for AFL and cricket or a world athletics meet. "Sydney's sporting infrastructure has fallen behind other states and major cities in the Asia-Pacific region,"" Mr Kerry said. While ANZ Stadium has served Sydney well, it must undergo a significant redevelopment to ensure it continues to attract major events and meet the expectations of today's players and fans. Bringing more night-life entertainment options to Sydney Olympic Park is also seen as critical to attracting more spectators. The cost of developing the surrounding entertainment precinct shown in the plans - which would allow fans to enter the stadium at different levels on futuristic-looking ramps - is not included in the $350 million price tag. But Mr Kerry indicated the stadium operators would be prepared to relinquish its commercial rights around the stadium to allow the government to attract private-sector backers to fund "a world-class event destination that has a life 365 days a year." A sports stadium battle is set to erupt ahead of the March state election, with the Sydney Cricket and Sports Ground Trust, which operates Allianz, and Parramatta and Penrith stadium bosses lobbying for hundreds of millions of dollars to fund upgrades. The government's stadium strategy released in 2012 said future investments in Sydney should be focused on ANZ and Allianz stadiums and suggested a smaller stadium be built to service western Sydney or an existing venue be redeveloped. Sport Minister Stuart Ayres said sports stadium funding decisions would be guided by the State Infrastructure Strategy, which is expected to be released within weeks. The Stadium Australia group built the Olympic stadium at a cost of $690 million, of which the government contributed about $100 million. ANZ Stadium has appointed Australia's largest privately owned engineering and construction firm, Laing O'Rourke, which acted as program managers for the London 2012 Olympics, to carry out the proposed redevelopment. Originally published as New-look ANZ will be better than Wembley