Richmond and Carlton will both submit pitches to have their old home grounds of Punt Road Oval and Princes Park re-developed by the Victorian Government next season.
Fairfax Media confirmed the news on Wednesday night, as both clubs believe the move could aid Victorian Premier Daniel Andrews in his 2018 election strategy.
Richmond CEO Brendon Gale confirmed the Tigers would submit the plan to Andrews Government by the end of 2017, and said the upgrade could allow for up to 8000 seats for supporters.
"Given our location within one of the world's great sporting precincts, you're looking at a tired railway station, you cross the road with your heart in your mouth and nothing improves when you enter the outskirts of the stadium," Gale told Fairfax Media.
"It makes sense to invest given the location alongside the MCG. We believe there's a place for AFL Women's, an elite training facility, VFL football and under-18s.
"We need to ensure it remains a really rich community hub for a whole range of community and second-tier activities that it really doesn't make sense to stage elsewhere."
Carlton themselves also have plans to upgrade their stadium, potentially to a size that could host AFL matches once again.
The last AFL game at the venue was played in May, 2005, although it was re-opened to AFLW supporters earlier this season, as the Carlton vs. Collingwood season-opener housed over 24,000 fans.
Now named Ikon Park, the venue could be upgraded to a 20,000-25,000 seat stadium with close to 70% of that as undercover seating, which not only could become the new home of the AFLW, but does have the potential to host AFL games.
The AFL will also wait on a proposed upgrade of Etihad Stadium, after the government postponed making a decision.
