The AFL has purchase of Etihad Stadium for a rumoured $200 million.
The League will gain control of the venue early next month.
Current Etihad Stadium CEO Michael Green will remain stadium boss and the stadium will still used as a multi-purpose venue, hosting concerts and a plethora of other sports.
“Owning Etihad Stadium enables the AFL to continue to strengthen the financial health of several of our Victorian clubs, develop an asset for our whole industry, and commit to being a serious stakeholder in the future of the Docklands precinct,” AFL chief executive Gillon McLachlan said in a statement.
“Stadiums are a vital piece of community and public infrastructure that bring city precincts alive.
“The AFL will continue to operate Etihad Stadium as a multi-purpose entertainment venue hosting AFL matches, other sports, concerts and a broad range of entertainment options.
“Our commitment as owners of Etihad Stadium is to work with government to provide a stadium experience for our fans equal to the best in the world, as well as explore how we can help improve the stadium’s relationship to Docklands and the city.”
The AFL was due to gain control of the Docklands stadium in 2025, however, the League has opted to buy the venue just under a decade early, to ensure a better deal for clubs who play at the stadium, with sides playing their home games at Etihad struggling to make any money out of the current arrangement.
Under an AFL owned Etihad Stadium, St Kilda, North Melbourne, Carlton, Essendon and the Western Bulldogs will pocket significantly more money each home game.
Clubs have to reach a certain attendance in order to make a profit under the current deal.
It was reported in 2013, that the Saints received a bill of around $100,000 per home game at Etihad Stadium.