There is the potential for art and sport to come together with the City of Launceston council's proposed draft plans to transform UTAS Stadium says event stakeholders.
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The $208 million project will include a show court with retractable seating to accommodate up to 5000 people for concerts, exhibitions/conferences, and higher level sporting events.
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Mona Foma curator Brian Ritchie said the development was an exciting idea he hoped would move forward.
"There might be some ways to combine sports and the arts in interesting ways," he said.
"There are creative ways to use venues, and this sounds like it may even become a bit of a precinct.
"So depending on sporting events and the scheduling of those, we may be able to use that as a general festival hub."
Mr Ritchie said there were not many Australian acts who had worked with Mona Foma that were too big for the venues, but that there could be some international acts drawn in from the upgrade.
"It would allow us to enter the next tier of touring acts," he said.
Mona Foma had inquired about using the stadium the last two years but was unable to due to cricket scheduling.
Visit Tourism Northern Tasmania chief executive officer Chris Griffin said concerts were able to be held at Silverdome in Launceston but more advanced venues with extra seating were sought after.
"A major investment in one of our larger venues has been some time ago [with Silverdome]," he said.
"[The development] will allow us to attract a broader spectrum of events to the city."
Mr Griffin said it would be important to negotiate a series of dates to get into the list of cities that performers and comedians were touring through.