Plans to redevelop two existing stadiums in Sydney, Australia could be scrapped and replaced by a scheme to build two new major venues – at double the cost.

The New South Wales (NSW) state government had previously earmarked AU$600m from the sale of the state's electricity assets in order to upgrade the city’s two major sporting venues – the ANZ Stadium and Allianz Stadium.

But rather than redeveloping the two existing stadiums, the alternative proposals would replace the Allianz Stadium with a new, international-standard venue and also create a new, separate home for the city’s rugby and football teams.

According to The Daily Telegraph, NSW sport minister Stuart Ayres is expected to receive a report this month recommending a complete change in long-term strategy for sports in Sydney.

It would see the Allianz Stadium demolished and replaced with an AU$100m multi-sport venue and a new AU$800m, 65,000-capacity stadium being built in adjacent Moore Park.

The plans also include the construction of a new 35,000-seat Parramatta Stadium, to act as the home to rugby league’s Parramatta Eels and soccer’s Western Sydney Wanderers.

If the plans are adopted, however, it would mean that the ANZ Stadium at Sydney Olympic Park – the main stadium for the 2000 Olympic Games – would be left without any funding.

It would also mean that the NSW government would have to double its AU$600m commitment to sports venues announced in March.

Although the proposals have yet to be confirmed or officially announced, they have already been denounced by the chair of the Centennial Park and moore Park Trust – which owns the land on which the new stadium would be built.

Speaking to the Sydney Morning Herald, Tony Ryan said: “If true, these plans are fundamentally inappropriate for Moore Park because it would lead to the loss of green space, impact on heritage and due to the area's existing traffic gridlock.”

Football Federation Australia’s CEO David Gallop also warned that Sydney would be in danger of losing big football events — like the upcoming Chelsea visit — to Melbourne if the 83,500-seat ANZ Stadium was denied funding.

The stadium’s owner – Stadium Australia Group – had been lobbying the government for around AU$250m (US$209.1m, €169.8m, £133.4m) to modernise the 15-year-old venue, with plans including a full roof and pitch-side seating.