Tennis Australia has launched a massive $1 billion bid to revitalize Melbourne Park.
Year in and year out worldwide tennis fans flood Melbourne Park in January to enjoy the Australian Open.
However, once the Australian Open finishes, Melbourne Park turns into a "ghost town."
Herald Sun reported that the bid includes the rights to manage Rod Laver Arena, Hisense Arena and Margaret Court Arena, as well as the surrounding precincts on a 21-year lease.
As part of the offer, Hisense Arena would get renamed to Melbourne Arena.
The goal of Tennis Australia is to provide an entertainment at Melbourne Park throughout the year.
The bid also includes an outdoor cinema, new retail outlets, and riverside restaurants.
"The Australian Open has grown massively over the past few years and we are now in the unique position of being able to use this experience to benefit the whole community," Tennis Australia Chief Operations officer Tom Larner said.
"Melbourne Park truly is the world's best sports and entertainment precinct and our proposal will help bring it to life year round. We've had a lot of positive feedback and are strong in our belief that this is the way to go."