Winston Peters is promising to "seriously" back a major government injection into a multi-purpose, covered stadium in Christchurch, but there's a catch.

At a public meeting in Christchurch this afternoon, the NZ First leader said the election promise would come if a "serious preference" was given to building the stadium using New Zealand wood.

"We're backing New Zealand made, we're backing New Zealand worker, and we're backing New Zealand innovation," Mr Peters said.

He said it would have to hold both sporting and entertainment events, to be a "24/7 revenue earner".

"You got a second-rate, temporary stadium not worthy of you, and not worthy of the Crusaders."