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It's being called the world's greatest rectangular stadium!

ANZ Stadium will be taken to a whole new level after Mike Baird today (Thursday) announced its redevelopment under plans for a $1.6 billion investment in Sydney stadiums.

The stadium will be upgraded into a cutting-edge, 75,000 capacity, rectangular stadium with work commencing sometime before 2019.

Get a look at the conceptual impression of the new ANZ Stadium in the video above!