One of Brisbane’s signature sporting grounds, The Gabba, is in line to receive a facelift possibly by 2024, with funds to be raised from numerous sources, including a major sponsor who will be given the ability to rename the ground at a price, reports brisbanetimes.com.au.

One of the conditions in the pending naming rights deal that will raise money for the redevelopment is that the name ‘Gabba’ must stay in the name, says Sports Minister Mick de Brenni.

“It could mean the "Optus Gabba" or "Telstra Gabba" or "Suncorp Gabba", as an example said Mr de Brenni said.

The Gabba is home to the Brisbane Lions AFL team, Brisbane Heat & Queensland Bulls cricket teams.

In another announcement this week, Treasurer Jackie Trad announced a business case to the tune of $2 million to begin regarding the redevelopment of the “surrounding section” of the Gabba as a portion of the Cross River Rail Project.

Ms Trad estimates the total cost will be around $100 million, with Mr de Brenni confirming this amount is separate to the redevelopment of the Gabba itself.

Mr de Brennis said this is “an outstanding announcement and a great day for Queensland sport and for this community.”

It is unclear at this stage how much the Queensland Government will be contributing to the project if it goes ahead.

Theurbandeveloper.com.au reports the Gabba revitalisation project could potentially attract private investment of up to $1.5 million.

An artist impression of the surrounding area proposal for the Gabba can be viewed at  

https://www.brisbanetimes.com.au/politics/queensland/gabba-name-up-for-sale-as-100-million-upgrade-plans-move-ahead-20180819-p4zyeo.html