The Aus$729m (£383m/€449m/$495m) Sydney Football Stadium project could encounter further delays after it emerged that the New South Wales Government has not yet finalised an agreement with a construction partner for the development.

Demolition work on the site of the old stadium has been completed, although the company responsible for the work earlier this year, Lendlease, did not activate its option to manage the build of the new venue.

Lendlease said that it could not construct the venue to the required specifications within budget, having spent Aus$40m on demolition work, with Premier Gladys Berejiklian announcing at the time that a construction company would be lined up by the end of November.

According to The Weekend Australian, Lendlease asked for at least Aus$50m more than had been budgeted to complete the project, which was originally expected to be open in early 2022.

However, according to a report in the Australian, a contract with a building contractor has not been finalised – although there are hopes that a deal could be wrapped up as early as this week.

Multiplex and John Holland were announced as the remaining two bidders in the process in August.

“We are in the final stages of negotiations to award the new contract for the construction of the Sydney Football Stadium. An announcement will be made shortly,” a spokeswoman for Acting Sport Minister Geoff Lee told the newspaper.

The new stadium has been lined up to host the National Rugby League Grand Final in 2022 as part of a long-term agreement, through to 2046, to keep the contest in Sydney.

Image: Allianz Stadium