Tasmania's Planning Commission will on Wednesday publish its final assessment report, which will include non-binding recommendations about whether the stadium should go ahead.
Construction of the $945 million roofed venue at Macquarie Point in Hobart is a condition of the Devils entering the AFL and AFLW competitions in 2028.
The project must be approved by state parliament, with a vote expected by the end of 2025.
Tasmania's governing Liberals and Labor opposition support the stadium, giving it the numbers to pass the lower house.
However, it faces a trickier path through the independent-dominated upper house, which the two major parties don't control.
Along with a recommendation on the build, the long-awaited report will also detail any concerns and could add conditions.
A draft report said the state government had overestimated the stadium's benefits and the design wasn't right for the city.
"We're looking forward to receiving that report. I have no idea what that report will state and we're all waiting in anticipation," Liberal MP Jane Howlett said on Tuesday.
The waterfront stadium would be one of Tasmania's largest-ever infrastructure projects and is deeply divisive in the community.
Supporters argue the venue will create jobs, boost the state's economy and attract bigger music and sporting events to Tasmania.
Critics say the stadium isn't needed given AFL is played at two existing venues, and have expressed doubts over the site's suitability. They also argue it would add an unacceptable weight to the state's already increasing budget debt.
The new build was mandated by the AFL in negotiations with the Tasmanian government over the provision of the league's 19th licence to the footy-mad state.
While some have argued for a renegotiation of the deal, AFL chief executive Andrew Dillon is holding fast to its "no stadium, no team" mantra.
The state government, which previously capped its contribution at $375 million, will likely have to borrow hundreds of millions of dollars on top of that to make up funding gaps.
The report's release is a key milestone in the path towards the Tasmanian team, which was announced in May 2023 after decades of campaigning.
The state government had hoped to bypass that planning regime and fast-track its assessment, only for a snap state election in July to torpedo that plan.
Despite the uncertainty surrounding the project, the Devils have ploughed on with key moves, including the appointment of a board and chief executive Brendon Gale, while recruiting a 200,000-strong membership.
Speculation is also swirling around the possible imminent hire of Nathan Buckley as inaugural coach.
The former Collingwood boss - perhaps with an eye to the report's release - stepped out of the race to coach Melbourne after his request to "wait a couple more days" was declined by the club.
"I had to risk sacrificing an opportunity to coach Melbourne, to keep an opportunity to coach Tasmania," he told Fox Footy.
The Devils are also set to play in the second-tier VFL and VFLW in 2026 after an application to join was approved.
