Australia's government has confirmed it will provide AU$30m (£20m, EUR24m, US$31m) towards the AU$535m (£355m, EUR425m, US$554m) redevelopment of Adelaide Oval.

The central government funding will be used to construct two new underground car parks as part of the scheme, as well as funding improvements to the Riverbank precinct.

Work is due to start on the redevelopment in March, following the end of the current cricket season. The new-look venue will open for the 2014 Australian Football League season.

Baulderstone, part of Lend Lease's Australian infrastructure division, will design and build the new 50,000-seat stadium, which will transform the cricket and Australian Rules venue.

It was also announced in February last year that Mott MacDonald will be involved with the scheme, which will feature three stands designed as individual pavilions and an international-standard indoor cricket school.

Prime Minister Julia Gillard said: "We want to make sure the benefits of this once in a lifetime upgrade doesn't just benefit sports fans. This redevelopment will benefit the whole city, from tourist operators to residents who live nearby."