North Melbourne Managing Director and CEO Carl Dilena has welcomed today’s announcement regarding the early purchase of Etihad Stadium by the AFL.

“Today’s announcement is good news for tenant clubs, including North Melbourne,” Dilena told NMFC.com.au.

“We look forward to sitting down with the AFL in due course to determine the detail of what this means for the club.

"It's too early to estimate the positive financial or fan experience impacts this will deliver for the competition, but we are excited about the AFL's plans for the stadium and the surrounding precinct.”

The AFL Commission last week signed off on the purchase of the stadium with formal documentation completed today.

It is expected that the AFL will formally take over the ownership and management of the stadium as early as November.