Three new stadiums will be built in Sydney in the next decade and a new super trust set up to run major sporting infrastructure under a $1.6 billion plan unveiled by Mike Baird on Friday.
While many of the finer details have yet to be announced, the plan is set to include a new 30,000-seat stadium at Parramatta, a new 55,000-seat stadium at Moore Park as well as a new indoor arena in the inner city.
The stadium at Parramatta will be the first built to replace the existing Pirtek Stadium. Mr Baird said he hoped it would be finished by 2019 and cost about $300 million.
This would be followed by a new 55,000-seat world-class stadium to replace to replace the aging Alianz Stadium at Moore Park.
The overall package requires an extra $1 billion beyond the $600 million Mr Baird has already said would be funded from the proceeds of the privatisation of electricity assets.
"We have fallen behind the rest of the nation. We've fallen behind the rest of the world, and what we want to do is put us back on top," Mr Baird said.
To help allocate the funding, a new body is proposed to take the place of the existing Sydney Cricket Ground & Sports Ground Trust and ANZ Stadium board, which have been competing for events.
The plan also includes the upgrade of ANZ Stadium of which details have previously been announced. This may include converting it into a rectangular stadium by bringing the seats in closer to the action and a retractable roof.