Chief Executive Officer Dave Smith said the Government's willingness to invest $600 million towards delivering a world-class rectangular stadium network was an important step in the process.
"More than 100 games of elite rugby league are played in this city each year – and we are by far and away the largest provider of elite sporting content in NSW," Mr Smith said.
"Today's announcement is massive for our game. Our fans have missed out in the past but the greatest game of all deserves a world-class experience.
"Our fans deserve facilities that bring them closer to the action and are easy to get to. That means facilities that are purpose built for rugby league.
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The investment ensures the NRL, on behalf of its fans, is part of the discussions around delivering a world-class fan experience and a purpose built, rectangular stadium that befits Sydney's status as a leading Australian and global city.
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"A second world-class stadium, however, is needed in central western Sydney and we will continue to work with the Government on the best possible solution.
"These are decisions that shape the long term future and we are determined that the fans of today, and the fans of tomorrow, get the best outcome."
The NRL said it would continue to engage with the Government as it considers the best options for fans in western Sydney.