The NSW Government will redevelop Penrith Stadium as part of its commitment to turn suburban venues into world class facilities.
Work on the stadium will begin at the start of 2023 and is expected to take two years.
The existing Stadium which has grown in spurts since the Panthers entered the comp. in 1967 will be knocked down.
In its place will be built a “boutique” style stadium housing up to 30,000 spectators and costing $300M.
The stadium strategy has identified the area from Eastern Creek to Greater Penrith as a key growth area which emphasised the importance of the area’s local NRL team.
NRL chairman Peter V’Landys told media that it was “the best news ever” for Penrith and young kids would aspire to play at a world class stadium.
Premier Dominic Perrottet said the announcement and confirmation of construction would give Western Sydney an outstanding landmark venue, befitting of Australia’s only global city.
“The Eastern City is getting a world class stadium, the Central City has world class stadia and now the Western City will have a world class stadium,” Mr Perrottet said.
“Penrith Stadium is a hub for Western Sydney - it’s where sporting success is celebrated, where families come together, and where our next generation of sporting superstars train.
“But this upgrade is about much more than sport, it is about bringing suburban venues to the fore and taking major events across the state.”
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the investment would help carry Western Sydney into the future.
“This new venue will help take Penrith to the next level in sport, entertainment and tourism,” Mr Ayres said.
“With a new international airport and metro rail line on the way in the Western Parkland City, now is exactly the right time to be investing in visitor economy assets in centres like Penrith.
“While this venue will be home to the current NRL Premiers the Penrith Panthers, it is about so much more than rugby league. This stadium will be a new major event venue for our growing population in Western Sydney.”
Minister for Sport Natalie Ward said the upgrade would ensure Sydney and NSW were well placed to host major events in years to come.
“We already have Sydney locked in as a host city for the FIFA Women’s World Cup and now with Penrith Stadium set to become a first-class venue, the sky is the limit when it comes to events NSW can bid for,” Ms Ward said.
