The Federal Government will fork up $65 million in funding to support upgrades to Launceston venue UTAS Stadium amid growing prospects of a new AFL team in Tasmania.
Prime Minister Anthony Albanese is expected to announce the needing backing for a new stadium at Macquarie Point this weekend, having ventured down to the Apple Isle this week.
However, Albanese has unveiled another trick up his sleeve to help strengthen football in Tasmania, matching the state government's funding to total $130 million in finances for redevelopments of York Park.
The Prime Minister and Tasmanian premier Jeremy Rockliff confirmed the news on Friday afternoon.
"It'll be a place people across Australia can come for world class entertainment - from music, to footy and more," Albanese Tweeted. "And it'll mean more local jobs for Launceston.
"It's part of our work to build an economy that works for all Australians."
Launceston is expected to continue to host AFL matches even when a new Tasmanian side begins its time in the top flight while calling the new Macquarie Point venue home, with Hawthorn seen likely to continue hosting matches at UTAS Stadium along with the new side.
The Launceston venue can currently host 19,000 fans,