The AFL will invest $360 million in a new Tasmanian club from now until the end of its first decade of existence if funding is secured for a new stadium at Macquarie Point.
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AFL chief executive Gillon McLachlan will visit the state on Thursday to make the funding announcement which includes a contribution from the league towards the stadium's cost.
The AFL provided similar contributions to the development of Gold Coast Stadium in Queensland ahead of the introduction of the Gold Coast Suns to the competition in 2011 and the development of Giants Stadium in Western Sydney ahead of the GWS Giants entering the competition in 2012.
While in the state, Mr McLachlan will detail that the new AFL investment will include funding of more than $90 million in game development and community football to build the game in Tasmania.
There will also be investment in participation programs, community coaches, volunteers, umpiring to drive the next wave of talented players, officials and administrators.
The funding also includes $30 million to be invested to develop young male and female talent in Tasmania including three new talent academies, with one each in the North, North-West and South
It is expected Mr McLachlan will reiterate to the audience that the AFL Commission and AFL clubs will not sign off on a licence for Tasmania without a new stadium.
"I know there are plenty of people who say they support the team but not the stadium, but we have been consistent with the message that it can't work to have one without the other," he said in a statement.
Tasmanian football legend Matthew Richardson said he was passionate about the state having its own team and new stadium was needed to support it.
"I feel like this is the moment for all of us to get behind this push and it will be a great thing for our state in so many ways," he said.
"As a kid growing up loving footy, this would have meant everything for me."
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