The ACT government hopes to get clarity on the future of Canberra Stadium at a series of meetings which could pave the way for a deal with the Australian Sports Commission.
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The commission is in the middle of an asset review and the development of a national sports plan, with the findings to be detailed later this year.
One option for the commission could be to sell Canberra Stadium, the AIS Arena and the AIS pool to the government given it is the main hirer of all three venues.
It's understood the government has spoken with the commission and Federal Sport Minister Greg Hunt about the future of the AIS campus in Bruce.
ACT sport minister Yvette Berry will attend a sport minister's meeting in the coming weeks where the commission could give an indication of its options.
However, the sports commission could have to apply to divide the land title at the AIS precinct if it wanted to sell some assets and keep others.
The cost of a deal would be a major sticking point and the government would consider bulldozing the precinct to develop the land to find a new $300-$400 million stadium in Civic.
The government has asked to be kept up to date with the commission's developments given it needs the venues to cater for professional and amateur sports.
The government pays $350,000 per year to rent Canberra Stadium for Super Rugby and NRL matches after a major change in the peppercorn lease agreement of $1.
The commission's decision on venues will be tied to its vision to reinvent sports funding in Australia.
One option is a national lottery and Olympic Games gold-medal champion Kim Brennan said the talks were "an exciting opportunity to recalibrate" Australian sport.
"[It's a chance to] look at how we fund sport, how we manage participation and preventative health, but also the pathways that lead to high performance," Brennan said.
"We've done a great job in the past of developing a world-leading high-performance environment ... the rest of the world has caught up.
"I think in some ways our pathways have been missing out and we need to look at ways we support that. Is it a model that sports are self supporting, or do we need more funding?
"The Australian Sports Commission is under new leadership in Kate Palmer, she's taking a chance to step back and understand the value of those assets [Canberra Stadium, the AIS Arena and the AIS pool] and what position they have moving forward.
"We shouldn't be scared of changed. But we should be making sure everything we do, we're doing for a reason."
Brennan is one of the most respected athletes in Australian sport. She won gold in the single sculls at the Rio Olympics last year and is yet to decide if she will retire from the sport.
The 31-year-old has served as a chair of the Australian Olympic Committee's athletes' commission and is an voting member on the AOC board.
Brennan was named Canberra's female athlete of the year after he golden moment in Rio last year and was at Manuka Oval on Wednesday to launch the 2017 awards campaign.
Cyclist Michael Matthews will be the main contender for the male athlete of the year after winning the Tour de France green jersey last month.
The government will also open voting for a fan's choice award in the coming months and Berry is keen to recognise the best in Canberra.
"The feedback I had last year was very, very positive and we recognised some of our elite sport heroes and community sport heroes as well," Berry said.
"That was the most important part, making sure all of our sporting champions from across the city at whatever level could come together and celebrate our sporting community."
