Here's what it could mean for four of the state's most popular sports.

Launceston is in line to host two Western United home games this year, marking the A-League's first visit in eight years.

Football Tasmania is also pushing hard to bring the Women's World Cup to Launceston in 2023 and establish a Tasmanian team in time for the A-League's next round of expansion.

Football Tasmania president Bob Gordon said he would wait to see the proposal in detail before commenting on its merit.

"Football has more participants than any other sport in Tasmania," Gordon said.

"In Launceston, we are seeing significant growth in player numbers and we believe that improving community facilities for football and other sports should be a priority for all levels of government."

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The proposed stadium upgrade includes retractable seating which can cater for the rectangular ground configuration required by soccer and rugby.

A timeline for the council's $208 million proposal is dependent on the state government taking ownership of the stadium and backing the project in conjunction with federal government.

Tasmania is in the final year of five-year contracts with Hawthorn and North Melbourne and, according to Premier Peter Gutwein, will not discuss new deals until the AFL provides a timeline on when the state can have its own team.

The Tasmania AFL taskforce's business plan proposed an upgrade to UTAS Stadium by 2023 to pave the way for a standalone team by 2025, although the AFL landscape has changed dramatically between the report being released in February and the arrival of coronavirus in March.

The proposed upgrade would see UTAS Stadium boosted to 24,112 seats thanks to new southern, eastern and northern stands.

The new eastern stand would see the railway worker's hill - a popular spot for general admission spectators - replaced with grandstand seating, while the western side of the ground would remain largely untouched.

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Should a Tasmanian team become a reality, the taskforce's business plan suggested blockbuster games - such as clashes with Richmond and Collingwood - should be played in Launceston until a purpose-built facility is constructed in Hobart.

Such fixtures would likely put the ground's record attendance - 20,971 at a Hawthorn-Richmond game in 2006 - under threat.

Like basketball, netball has long been pushing for updated facilities.

Northern Tasmania's two State League netball clubs play out of the Silverdome, which was built in 1984 as a cycling velodrome and also hosts basketball, carnivals and expos.

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The proposed three-court facility could either become the North's new home of State League netball, or free up space to allow the Silverdome to become a specialised netball and cycling venue.

The new facility would also provide an ideal venue for Launceston's annual Collingwood Magpies Super Netball fixture.

Launceston has been hosting BBL matches every years since 2017, including two a year since 2018.

Crowds have steadily dropped since 16,734 attended the Hurricanes' Launceston debut, but the new upgrade could help make UTAS Stadium a viable location for finals matches.

UTAS Stadium was fitted with new outdoor turf practice wickets last year.