MELBOURNE, AUSTRALIA - FEBRUARY 28: AFL CEO Gillon McLachlan speaks to the media during a press conference at Marvel Stadium on February 28, 2022 in Melbourne, Australia. (Photo by Quinn Rooney/Getty Images)

Australian prime minister Anthony Albanese has called on the AFL to maximise their support for Tasmania's AFL bid.

The sticking point over the state's bid to become the 19th AFL team has been the stadium, however, it appears funding agreements are getting closer to ensuring the stadium at Macquarie Point, as well as an urban redevelopment, can take place.

Despite that, only $15 million in support has so far been promised by the AFL.

That is joined by $85 million from private investors, while it's understood another $240 million will be needed from the federal government to complete the stadium.

According to The Examinder, a state government commitment of $65 million will also need to be matched by a $130 million federal government investment to cover the costs of upgrading Launceston's UTAS Stadium, where games will also be played.

Speaking on 101.7 HOFM show The Waterboys, Albanese hinted that the AFL will need to increase its commitment to ensuring the Tasmanian bid can go ahead.

"I think they are going to be major beneficiaries of this - and I think that those discussions will take place - but I'd like to see the AFL certainly commit to maximise the support that it can give," he said.

"It's been given substantial taxpayer support in the past and had benefit from the investment and a Tasmanian team will produce returns for the AFL over a period of time."

The figure from the AFL has been labelled as small, however, there is precedence, with the AFL previously only putting $10 million each into the Greater Western Sydney Giants and Gold Coast Suns previous stadium expansions before their entries to the competition.

Despite that, premier Jeremy Rockliff said the stadium was only a small part of the urban development of the area, and was hopeful of all parties coming to the table to ensure the redevelopment could take place.

"I was very pleased with Anthony's open-mindedness and the big picture look," Mr Rockliff said.

"He could see when it comes to Macquarie Point ... not only a stadium, which is a small part of it really, but a whole entire precinct [to] bring that waterfront alive.

"That whole urban renewal project is where the Prime Minister I think is quite excited about it.

"I believe very strongly that the Prime Minister sees the visions and has also got that personal connection as well."

The federal budget will be handed down in May, meaning the wait for any further communications and decisions over Tasmania's bid for an AFL licence will likely be on hold in the coming months.