SYDNEY’S Olympic arena ANZ Stadium will lose out under a confidential plan to spend up to $1.3 billion building new state-of-the-art sports stadiums at Moore Park and Parramatta.

With Sydney’s biggest stadium set to miss new funding, high-level negotiations are being finalised for ANZ’s operators to be paid $135 million over the next 15 years to hand over control to a new government-appointed super stadium trust.

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Sport Minister Stuart Ayres is expected to receive a report this month recommending a new 65,000-seat venue be built near Moore Park’s outdated Allianz Stadium on land presently controlled by the Centennial Park and Moore Park Trust.

It will also recommend the construction of a new 35,000- seat Parramatta Stadium, home to rugby league’s Parramatta Eels and soccer’s Western Sydney Wanderers.

The controversial plan will require Premier Mike Baird’s support to double the $600 million stadium fund he promoted at the March election.

Highly placed sources told The Daily Telegraph Mr Ayres believes the government will need to allocate about $800 million to build the new Moore Park stadium and $400 million for Parramatta Stadium.

Former Liberal leader John Brogden, who is writing the report for Mr Ayres, has also revealed to the Centennial Park and Moore Park Trust that a smaller multi-sports venue — believed to be worth about $100 million — would be built when Allianz is demolished in about five years.

Mr Ayres has told sports bosses, including NRL chief Dave Smith, he is determined to win the Premier’s backing to “future-proof” Sydney’s stadiums rather than adopt a smaller, piecemeal approach.

“It’s a once-in-a-50-year chance to get it right,’’ he has said. But the plan will create doubt about the long-term future of ANZ, with its bid for $350 million to move seats closer to the sports action being rejected.

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media_camera ANZ Stadium has played host to many classic sports encounters / Picture: Brett Costello

Sources close to Mr Baird say the Premier will consider whatever plan is presented but they stress that “$600 million is what’s been allocated”.

The centrepiece of the plan is a hi-tech, 65,000-seat stadium to be built on the upper and lower Kippax playing fields at Moore Park East between Anzac Parade and Driver Avenue. Construction could begin in 2017 with the new venue expected to be hosting matches by 2020.

Mr Brogden has said in private meetings the development would include an underground carpark and training facilities. It would be serviced by the new light-rail service running from the CBD to Randwick.

But Centennial Park Trust chairman Tony Ryan has told Mr Brogden the trust has “significant concerns” over traffic management and land under its control being used for the stadium.

ANZ’s private-sector operator, Stadium Australia Group, is said to be in favour of a “management partnership” under which a new “super trust”, involving the Sydney Cricket and Sports Ground Trust, would take over the running of Allianz, the SCG, Parramatta Stadium and ANZ.

Stadium Australia Group would be paid annual annuities worth $135 million — a figure based on its projected earnings over the rest of its lease, due to expire in 2031.

It would also agree to waive its contractual rights which would limit the new Moore Park venue to 48,000 seats and Parramatta Stadium to 35,000 and prevent them from having roofs.