SACA, SANFL commit to Adelaide Oval redevelopment

The Adelaide Oval is a step closer to being the home of football and cricket in South Australia after a deal was struck today.

Under the plan the oval will be transformed into a modern 50,000-seat stadium.

The South Australian Cricket Association and the SANFL today formally committed to the Adelaide Oval redevelopment, but the State Goverment conceded it is "not a done deal".

SACA president Ian McLachlan and SANFL general manager Leigh Whicker fronted a gathering of key stakeholders at the Adelaide Convention Centre this morning to announce they had signed "letters of intent" to become co-tenants at a redeveloped Adelaide Oval.

Today marked the deadline set by the State Government for football and cricket to reach an agreement, meaning detailed design work can now start.

Infrastructure Minister Pat Conlon announced the State Government would immediately release $5 million from its $535 contribution towards developing detailed designs for the project, but re-stated the government's intent to cap its contribution.

He acknowledged there were still issues yet to be resolved, chiefly a funding shortfall.

"It's true, that this is not a done deal yet, there are challenges to meet and they need to be addressed," he said.

"(But) to say we haven't made progress, is to be completely ignorant of the giant strides that have been taken.

"We acknowledge there are funding issues to be addressed, (including) $50 million for car parking," he said.

"(But) any remaining funds that need to be found are dwarfed in size by the State Government's contribution.

"I don't think there's any going back from here.

"There will be no further delays."

SACA, the SANFL and the Adelaide and Port Adelaide Football Clubs will seek formal approval from their combined 80,000 members by December.

Mr McLachlan saidthe evidence was "overwhelming" that the project would deliver the best outcome for football  and cricket.

"Today we can confirm that cricket and football can be played at Adelaide Oval to the very great benefit of both codes," he said.

He conceded there was "a lot of work to be done" but "the rewards will be more than worth it".

"We've slowly worked through the problems and so far we haven't found any that are insurmountable," he said.

Mr Whicker said today's agreement was a "pivotal step".

"Today, cricket and football confirm publicly their desire to make Adelaide Oval their home from 2014," he said.

"Today is a major turning point in that pursuit, it is a day when we can talk about the way in which this ambitious project will transform Adelaide."