Malcolm Turnbull has all but ensured a new stadium will be built in Townsville after promising $100 million to help fund the project.
The prime minister announced the funding in the north Queensland city on Monday as part of the government's first-ever city deal.
Although the funding was contingent on agreements with the local and state governments under the coalition's cities policy, Mr Turnbull said he was "very confident" the deal would go ahead.
"There has been a lot what have I would call `ad hoccery' in the way in which governments have invested in cities," he said.
"Some money for this, a road here, a bridge there, some investment in a new development somewhere else."
Mr Turnbull said the cities deal would provide a coordinated approach to investment and ensure Townsville was "even more liveable" and "even more vibrant".
His announcement came just days after the Queensland government increased its commitment from $100 million to $140 million and the North Queensland Cowboys, who currently play out of a 22-year-old, 26,500-capacity home ground, pledged $10 million.
The premiership-winning Cowboys agreed to take out a loan pay 10 years' rent for the venue up front.
The NRL would underwrite the commitment by funding interest payments on the loan.
Mr Turnbull's commitment, which matched a $100 million pledge already made by Opposition Leader Bill Shorten, meant the $250 million would be built regardless of whose party won next month's federal election.
But an integrated stadium and entertainment precinct - the community's preferred option - will require more funding.
Premier Annastacia Palaszczuk downplayed the coalition's funding commitment as a long time coming.
"Finally, finally, finally," she said.
"This is something that my government has been pushing and pushing and pushing for years."
Cowboys co-captain Johnathan Thurston has led the charge for the new stadium, channelling his inner-politician last week to urge Mr Turnbull to match Labor's commitment.
"It's (about) just more than the stadium. This is about creating jobs," the Test and Queensland five-eighth said.
Thurston first raised the issue when he used his acceptance speech after the Cowboys won their maiden NRL premiership last October to tell the prime minister, who was standing beside him on the stage, that "North Queensland deserves a new stadium".
NRL CEO Todd Greenberg said the promised funding from all sides would give North Queensland sports fans the facilities they deserved.
"Not only will our fans benefit from a better experience in a new stadium, but the people of northern Queensland will benefit from new jobs and an influx of cash into the local economy."
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