MELBOURNE, AUSTRALIA - MARCH 07: A general view of the Jack Dyer stand is seen during an AFL Practice Match between the Richmond Tigers and the Essendon Bombers at Punt Road Oval on March 7, 2014 in Melbourne, Australia. (Photo by Michael Dodge/Getty Images)

The Tigers are the latest club to propose a new, third AFL stadium for Melbourne.

The Herald has reported that Richmond has proposed a 40,000 seat stadium as an alternative to Eddie McGuire’s proposed 60,000 seat retractable roof venue at the Melbourne Park precinct.

The proposed new stadium would be a redevelopment of Richmond’s current base, Punt Road Oval.

Importantly, unlike McGuire’s plan, the new stadium would not require the selling of Etihad Stadium.

The plan would also include a fan zone are between the MCG and Punt Road Oval and an upgrade to Richmond railway station.

“Is a third stadium worth exploring? I don’t know, that will be up to the AFL, but we want to be in the discussion,’’ Richmond chief executive Brendon Gale told the Herald Sun.

“We are in the process of developing a master plan for this precinct.

“Punt Rd should be in the frame. It’s an existing venue, it wouldn’t require the selling of Etihad, and the Richmond railway station has been the agenda for a number of years and maybe this gives the government the opportunity to redevelop that.

“The economic impact of this game is huge, $3 billion, half a million members, how many fans are there in Victoria?

“This game is a huge driver of this economy. And I think we’re entitled to question the extent our government invests in football relative to other states.”