During the recent Victorian election, the Brumby government pledged $30 million towards the construction of a 15,000-seat venue in Ballarat, which was slated to host up to four Kangaroos matches each year.
But when Labor lost the election the project was thrown into doubt, and so far the new Baillieu government has refused to endorse it.
"I still think having a boutique stadium an hour out of Melbourne makes perfect sense," North Melbourne chairman James Brayshaw told afl.com.au on Monday.
"When you look at the fact Greater Western Sydney, Gold Coast, Port Adelaide and Fremantle have to regularly come to Melbourne, you can see there are lots of games that suit smaller stadiums.
"If one gets built an hour out Melbourne then we will happily support it, because a lot of our games against clubs like that are suited to a 15-20,000-seat stadium.
"Taking AFL footy to regional areas is also something that makes sense.
"I still think it's a good idea but whether Ted Baillieu and his government, or Julia Gillard and her government, think it's a good idea remains to be seen."
While the Ballarat proposal is in limbo, Brayshaw has confirmed the Kangaroos are still in talks with Cricket Tasmania about a potential deal to play two home games each season at Bellerieve Oval.
He said the deal was reliant on the support of the Tasmanian government and required a net guarantee of $750,000 for each game his club played there.
"I would have thought the amount of money they would need to inject to make it happen is pretty minimal when you stand it up against the benefits that having two games of AFL footy in Hobart would bring to the community," Brayshaw said.
"Basically, it does need government underpinning … and as long as it gets that then it's absolutely over the line.
"A couple of games a year would be sensational, and the people want it badly, so let's get it happening."
North Melbourne might eventually play home matches in both Ballarat and Hobart, with the chairman suggesting not every home game could be played at the MCG or Etihad Stadium in future.
"In an 18-team competition we're going to have lots of games of footy that aren't suited to 50,000 or 100,000 seat stadiums," Brayshaw said.
An AFL spokesman said "we are monitoring the discussions" between North Melbourne and Cricket Tasmania, but he refused to comment further.
