The Northern Territory is inching closer to having its own AFL team as a release of a strategic business case from the Australian Football League Team Northern Territory Taskforce comes to light.

The case - which was revealed on Thursday - made claims that a new stadium in Darwin's CBD could be built within the next seven to 10 years at a cost between $700-$735 million, allowing a team to join shortly after Tasmania (who enters in 2028).

The plan also consists of upgrades to Traeger Park in Alice Springs and further improvements to TIO Stadium in Darwin.

The task force, which is made up of Northern Territory Government and AFLNT representatives, along with industry and AFL leaders and headed by AFLNT chairman Sean Bowden and NT sports minister Kate Worden, was formed in 2021 to lead the investigation into establishing an AFL club in the Northern Territory.

The completed business case has given them increased confidence an NT team will become a realistic prospect within the next decade.

“This will complete the AFL, it will make the AFL a truly national competition,” AFLNT chairman Sean Bowden said on Thursday.

“Ultimately, the biggest challenges for us are going to be … making sure our talent pathways are strong, the conditioning of players, and just winning the belief of the national competition that this is the right place and that we can take our rightful place in that competition.

“We dare to dream in the NT, we dare to think big and we continue to seek to push ourselves into the mainframe of how we lead our Australian way of life,” Mr Bowden said.

“I would be confident we would be close to Tasmania when they join, the NT government has already invested in extra games for Darwin through the partnership with the Suns.”

MORE: Northern Territory AFL Club License Strategic Business Case

Former AFL chief executive Andrew Demetriou - who introduced both GWS and Gold Coast during his tenure - said there was plenty to "like" about having a team in the NT and the prospect is worth exploring.

“There's a lot of things I like about it. The NT has great football history, a lot of great footballers have come from the region and it would be great for that area to have an AFL presence,” Demetriou said on SEN.

“I'm passionate about the national competition, passionate two new teams came in under my watch and with Tasmania in, it would be great to explore if there is room for another team.

“The NT is the gateway to Asia and there's a lot of economic activity at the moment, so if you're looking at expanding the competition there's a lot going for it.”

Demetrio, along with AFL legends Nathan Buckley and Andrew McLeod, have been asked to join the task force to assist with its viability in the league.

In competition for the 20th team, murmurs coming from the West have arisen to host a third AFL side - along with Fremantle and West Coast - given their financial strength and large footy fanbase, as well as the recently created Optus Stadium.

South Australia's Norwood - who plays in the SANFL - has reportedly pressed their case to join the elite competition while a team in Canberra is also in the mix.

Whilst a push for a 20th AFL team comes from across the country, former Collingwood president and media guru Eddie McGuire revealed that club presidents aren't happy with a 19-team competition, with a weekly bye the main cause for concern.

League CEO Andrew Dillon said the competition will eventually grow to 20 teams but is not worried about having an extra bye due to the uneven amount.

“I am not as worried about a bye and 19 teams but the history of the VFL into the AFL is it has grown," Dillon said on ABC Radio recently.

"From 1987 we went from 12 teams to 14 and we are now at 18, soon to be 19. There will be growth but it's just a matter of doing it at the right time.

"We have got a lot of work to do in Tassie and that's the real focus at the moment.

“It is making sure if there is a 20th team there is a market for it and they want that team."

In the pre-season, all 18 club captains were asked if the AFL were to add another team following Tasmania, where would it be?

The majority answered with Darwin (8), while WA and North Queensland had four each in favour as Hawthorn's James Sicily said "we're good" with 19.