SYDNEY'S ANZ Stadium could be turned into a fully roofed, rectangular football ground enabling fans to sit on the sidelines under a visionary plan to be unveiled today by Sport Minister Graham Annesley.

The stadium upgrade is outlined in a new video masterplan for Sydney Olympic Park, which also envisages new clubs, bars, restaurants, a gymnasium, pool and a rock climbing wall on ANZ Stadium.

The masterplan, obtained by The Daily Telegraph, comes as the stadium's operators, Stadium Australia Group, push for the state government to commit funds to upgrade the 14-year-old stadium.

They say the stadium must remain competitive with Asian and other Australian venues to ensure Sydney continues to attract major events, such as this month's Manchester United football match which is forecast to pump $16 million into the NSW economy.

Mr Annesley has worked closely with the Sydney Olympic Park Authority and the government architect's office to sharpen the long-term vision for the entertainment precinct, including the creation of the video which includes animation of a roof opening over the stadium.

media_camera An artist's impression of ANZ Stadium with retractable roof.

"This video provides people with an idea of what is possible for the future of Sydney Olympic Park in keeping with the masterplan for the precinct," he told The Daily Telegraph.

"It's a very exciting glimpse of the future as the park continues to evolve as a constant reminder of the wonderful Sydney Olympic legacy left to the people of NSW."

Revamp crucial for ANZ Stadium

The plan also envisages a new pub opposite The Brewery near the Novotel hotel.

Futuristic photographs of the stadium show how new seats at the try-scoring ends of the stadium would be able to be reconfigured to be pushed closer to the field. Seats on the sidelines are already able to push closer in for league, rugby and soccer matches.

media_camera An artist's impression of ANZ Stadium with retractable roof.

There would also be small changes to improve visibility at cricket and AFL matches.

The stadium, built as an athletics arena for the 2000 Sydney Olympics, is often criticised for not offering enough seats close to the action.

ANZ Stadium managing director Daryl Kerry said the timing of the release of the future vision was significant as Sydney was about to host its biggest month of sport since the Olympics, with the British Lions and State of Origin series deciders, leading to the Manchester United game.

Field of dreams deserves upgrade

"Combining a roof and moving stands at each end of the stadium to bring fans closer to the action would create an unrivalled atmosphere for the biggest sporting events held in the country," Mr Kerry said. "Imagine if we can move those 15,000 Blatchys Blues fans at State of Origin, or the Terrace Australis (Socceroos) or Wallabies supporters groups, to within 5m of the field?"

The new seating arrangement could mean the stadium's capacity shrinks slightly from 83,500 to about 80,000, depending on the final engineering design.

media_camera An artist's impression of ANZ Stadium with retractable roof.

Canterbury Bulldogs chief executive Todd Greenberg said it was time the government made a new investment at ANZ Stadium. He said a roof and better configured seating were "overdue". "This is Australia's best multi-purpose stadium and Sydney sports fans would really get behind these new plans - it would take us to the next level," he said.

The government hopes the launch of the masterplan video will stimulate new private investment in the precinct.

Its launch comes only months after Stadium Australian Group offered to sell ANZ Stadium back to the government for $100 million.

Mr Annesley backed the move, but Treasury rejected it, leading to doubts about the future viability of the stadium. Stadium Australia is now prepared to fund part of the development if the government commits to a lease extension of about 30 years when its present lease ends in 2031.

media_camera An artist's impression of ANZ Stadium with retractable roof.

"Private enterprise will be working with government to develop a funding model that can deliver this vision for the Stadium in the near term," Mr Kerry said. "There have been suggestions the three major events in July could generate $50 million for the NSW economy so an investment in the stadium is, in effect, an investment in NSW."

The operator will also begin talks with key sporting groups, including the NRL, AFL, ARU, Cricket Australia and Football Federation Australia about funding the upgrade.