There is one other option, that is brought every now and then, and most likely the easiest one to get council approval.
The Club takes over the Aquatic centre and expands on that, they could then get a north-south ground Adelaide oval size for the AFLW and SANFL match day plus training on the eastern side of the centre, and then have an East-West, MGC size ground on the southern side of the centre.
Failing that then it out in the suburbs
Thebby oval plus Kings reserve give them two grounds,
West beach next to the Bite has room for 2 grounds
All have Promised, The Aquatic centre has a slight advantage as it offers a secondary revenue, and bigger exposure to government both Federal and Stae funding from several sports. including Olympic funding, the area will have Mens and Women Football, Swimming, Driving other Watersports, ESports, and maybe in 10 years a baseball park
Forgot to add about the Aquatic centre idea, in 5 years time the may be a tram running up to Piccadilly, meaning they can offer a park and ride for match days using the tram and buses, With car parking on the Northern ground.
I wouldn't want the AFC to take over a debt making business.
https://www.abc.net.au/news/2017-03-13/adelaide-aquatic-centre-drowning-council-in-debt/8348342
Councillor Anne Moran told ABC Radio Adelaide the facility lost as much as $700,000 each year and the council could not afford the urgent upgrades the centre requires.
She said the State Government abandoned the North Adelaide facility when it built the state aquatic centre at Marion.
"We've been left holding the enormous debt-making business when only just under 7 per cent of our ratepayers have used it at least once in a year," she said.