The cost of renovating Sydney’s ANZ Stadium has reportedly sky-rocketed from Aus$700m (£416m/€474m/$530m) to Aus$1.6bn.

The 9NEWS website, citing sources familiar with the matter, reported that the increased price of the development would put the renovation in serious jeopardy.

The local government had intended on redeveloping the stadium into a 70,000-seat rectangular venue.

As 9NEWS notes, the New South Wales government had set aside Aus$1.6bn to renovate the state’s suite of stadia, and not just ANZ Stadium. That figure had been intended to include redevelopments at Parramatta Stadium, Allianz Stadium and the Sydney Cricket Ground.

ANZ Stadium is used to stage a number of sports, including rugby league, rugby union, football and cricket.

Image: Adam J.W.C