The regional centre took a big step towards hosting AFL matches on Wednesday when the Victorian government announced a plan that would see North Melbourne play four matches for premiership points each year.
League chief executive Andrew Demetriou has endorsed the potential move, saying the city is more than capable of hosting elite-level football.
"North Melbourne has a strong relationship with the Ballarat region that has grown significantly in recent years and this would be a great opportunity to play games in one of Australia's fastest growing regions," Demetriou told afl.com.au on Wednesday.
"As well as a facility for AFL games it also provides a quality ground for local community football."
The new Ballarat push comes after the Kangaroos recently failed to gain a majority share of the potentially lucrative Tasmanian market.
The club had been looking to play up to seven matches a season in Hobart, but the Tasmanian government opted to renew its deal with Hawthorn, which will play four or five matches a year in Launceston over the next five seasons.
With its Tasmanian option thwarted, the Kangaroos are looking to build their membership base in country Victoria, where they have previously played pre-season matches and held community camps, and the League fully supports the concept.
"The Ballarat and surrounding region is 400,000 people strong and growing - that’s almost the size of Tasmania itself," Demetriou said.
"I have no doubt Ballarat can be home to AFL home and away games in the next two years."
The likelihood of matches in Ballarat will become a reality should Labor be re-elected at this weekend's state poll.
Premier John Brumby said the potential deal could be worth $30 million.
"Regional Victorians love their footy and North Melbourne playing in Ballarat would not only be a boost for the city, but will help ensure our clubs continue to play in Victoria," he said on Wednesday.
"A future Labor Government will invest $30 million in the Eureka Stadium and major events precinct, with $25 million to bring the stadium up to AFL standard, including resurfacing the oval, new player change rooms and coaching boxes, and a boutique-style arena for up to 15,000 fans.
"Some of our greatest players have come from the bush. So it’s fitting that this historic move would bring AFL to Ballarat. As the game grows nationally it’s now time we took the elite form of the game to regional Victoria.
"The move to bring AFL football to Ballarat would be an economic boon for the city, attracting supporters from all over the state."
The City of Ballarat would also receive support from the recently announced $12 million regional events fund to encourage North to transfer some of its games.
North Melbourne struggled to attract crowds at times this year, with average numbers down on its 2009 figures.
