Proposals Submitted for Sydney Olympic Stadium Facelift

(ATR) The owners of ANZ Stadium in Sydney will reveal renovation plans within five weeks.

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SYDNEY, AUSTRALIA - JUNE 18:  A general view of ANZ stadium as the teams line up before game two of the State of Origin series between the New South Wales Blues and the Queensland Maroons at ANZ Stadium on June 18, 2014 in Sydney, Australia.  (Photo by Mark Metcalfe/Getty Images)
SYDNEY, AUSTRALIA - JUNE 18: A general view of ANZ stadium as the teams line up before game two of the State of Origin series between the New South Wales Blues and the Queensland Maroons at ANZ Stadium on June 18, 2014 in Sydney, Australia. (Photo by Mark Metcalfe/Getty Images)

(ATR) The owners of ANZ Stadium in Sydney will reveal renovation plans within five weeks.

Two submissions have been given to redesign the 2000 Olympic Stadium from construction companies Brookfield Multiplex and Laing O’Rourk.

The two companies will present the submissions, which must include design concepts, full construction schedule, and cost to an evaluation committee next week.

"Stadium Australia Operations hopes to be in a position, within the next five weeks, to release at least some of the design concepts for the redevelopment, which should generate a lot of excitement," Daryl Kerry, Stadium Australia Operations managing director, said in a statement.

The renovations are expected to cost around $250 million with construction starting next year pending the necessary funding. A retractable roof, closer seating, and an upgrade in facilities are what the New South Wales Government asked design companies to include in their proposals.

"The design concepts we have seen at this point from both consortiums are exceptional and will provide Sydney with one of the greatest multi-purpose sports and entertainment stadiums in the world."

Written by Aaron Bauer

Homepage photo: Getty Images

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