$59m plan for Junction Oval: Vic Libs

After a 50-year absence, the St Kilda Football Club could return to Junction Oval as part of a $59 million rejuvenation the Victorian coalition is promising.

Premier Denis Napthine committed $20 million to make Junction Oval and Ian Johnson Oval world class facilities if the coalition is re-elected next Saturday.

Junction Oval is set to become the new home of the Sheffield Shield in Victoria, while Ian Johnson Oval will be a training centre for St Kilda footballers, Dr Napthine promised.

He said the Old Melburnians Football Club would also benefit from the overhaul of their home ground.

"It's a great win for cricket in Victoria, the St Kilda Football Club and AFL, a great win for the Old Melburnians but also an important win for the broader community here," Dr Napthine said.

"The local primary school will use these facilities, the local community will use these facilities, the local council have embraced this project."

Dr Napthine said the AFL would manage the overall project.

"It is their project, they have driven this project," he said.

"They will be then developing the other partners to participate in this project ... the AFL will be managing the overall financing of the project."

St Kilda president Peter Summers said bringing the club home would be a huge step for the club and supporters.

"Over 90 years of our history has been spent at this oval, at Junction Oval, so it is clearly the spiritual home of the St Kilda Football Club," he said.

Labor leader Daniel Andrews has previously pledged $25 million to upgrade cricket facilities at Junction Oval.

St Kilda chief executive Matt Finnis said the AFL had been in discussions with Labor but didn't want to comment on what could happen after the election.

City of Port Phillip mayor Amanda Stephens said the council had not made any commitments based on either plan.

"Any commitment would be contingent on the proposal benefiting our community and local economy," she said.