But even with the revised price tag, the new stadium will not include an LED "curtain", which would enable the top tier of the stadium to be closed off during events that attract smaller crowds. The stadium's key tenants - Sydney FC, the Sydney Roosters and the NSW Waratahs - asserted that the technological feature was a top priority for them. Loading Replay Replay video Play video Play video Sydney FC chief executive Danny Townsend said all of the tenants of the former Allianz Stadium "have always been adamant we needed it to function in two modes". "Once they announced the funding envelope and the stadium design, the one thing that wasn't included ... was the curtain," Mr Townsend said.

"At which point we went, hang on, we only agreed to this if we could operate and function in two modes, and in order to function in two modes, you need to be able to cover one of those modes." The new stadium will hold 45000 spectators, with Sydney FC games averaging about 15000. Sydney FC chief executive Danny Townsend. A spokesman for NSW Rugby Union said the organisation was "excited" about a new home for the Waratahs, but added that "throughout the consultation process, NSW Rugby made the inclusion of a curtain within the stadium’s top tier a priority". Hole in the ground: The demolition site of Sydney Football Stadium earlier this year. Credit:Brook Mitchell

Sydney Roosters chief executive Joe Kelly told the Daily Telegraph earlier this month the LED curtian "was a key feature to the original design of the stadium that we supported." Acting Sport Minister Geoff Lee said that the government had "always been clear that no club mode curtain will be delivered in the stadium project". Loading Ms Berejiklian defended the government's decision to re-tender for the project after it severed ties with contracted builder Lendlease in July, after the company had been unable to build the new stadium within the $729 million budget. "While the estimated total cost for this build is higher than what we originally anticipated, it is much better value than what we would have achieved had we not gone back to the market," Ms Berejiklian said.

The NSW Labor opposition, which went to the election opposing the stadium rebuild, seized on the cost blowout, with leader Jodi McKay declaring "the entire project is built on a lie". “Nothing Gladys Berejiklian says on project costings can ever again be believed," Ms McKay said. "I have no confidence this project will be delivered on time." As recently as October, Dr Lee told the NSW Parliament the project remained "on budget". "We will do what those opposite are unable to do: deliver our stadium on time and on budget," Dr Lee said during question time, as he responded to Labor's questions about the project's timeline.

An artist's impression of the new Sydney Footbll Stadium. Credit:SCG Trust As she announced the re-tendering process in July, Ms Berejiklian also reaffirmed the project remained on track , saying, "We want to make sure it’s within the budget and we look forward to having a contractor on board to meet those requirements." At the time, then-sports minister John Sidoti also offered assurances the project would be delivered on budget and on time. "I wouldn't go back to tender if I didn't think we could meet those requirements. I'm very confident we'll meet the budget and those time constraints," Mr Sidoti told the ABC in July. Premier Gladys Berejiklian defends the stadium cost blow-out at a press conference at the Rural Fire Service headquarters in Sydney on Wednesday. Credit:AAP

The Premier's announcement on Wednesday comes after the government missed its own November deadline for hiring a new builder amid negotiations with Multiplex and John Holland. The stadium rebuild was a major issue in the March state election, with Labor and the Greens opposing the demolition. Loading Labor campaigned on a platform of "schools and hospitals before stadiums", with then-leader Michael Daley claiming he would force the Sydney Cricket Ground Trust, which manages the stadium, to take out a $644 million loan to proceed with the rebuild. The Chinese-owned John Holland Group has operations across Australia, south-east Asia and New Zealand. It constructed the Great Southern Stand at the Melbourne Cricket Ground in the early 1990s.

In recent years it has been involved in a public fight with the West Australian government over the construction of Perth Children's Hospital, which was plagued with problems and delays. John Holland chief executive Joe Barr said the company was committed to building a stadium "worthy of Sydney’s status as a global city". "We have a track record of delivering major city-shaping projects like Sydney Metro Northwest on time and on budget, and we are looking forward to working with the NSW government and the community to set a new standard for stadium construction," Mr Barr said. NSW Minister for Planning Rob Stokes confirmed the project had received planning approvals, and Dr Lee said the government would work closely with the NRL and other sporting partners to finalise a schedule of fixtures for the new stadium in the second half of 2022. "We’ve seen the benefits contemporary stadiums bring, with the opening of Bankwest Stadium in Parramatta, and we are confident our investment in the Sydney Football Stadium will deliver the same long-term benefits to NSW," Dr Lee said.