"This ground has been a part of Sydney life and culture for almost 80 years," Anthony Albanese said.
"It played a part in keeping Sydney residents in work in the 1930's through the Great Depression and hosted the cream of sporting talent in the Empire Games."
"Today, Henson Park continues to serve our community by being host to the Newtown Jets, AFL games, and international Rugby Union squads during the World Cup."
"It is also widely used by local schools and community groups."
"So, it is time to give the Park these desperately needed improvements. I am pleased to be able to deliver upgrades to this historic ground today."
Anthony Albanese said that supporting local projects like this one were a part of Federal Labor's economic plan.
"Faced with the most devastating economic downturn since the Great Depression, Federal Labor rose to the task, delivering much-needed community projects and saving jobs around the country." Anthony Albanese said.
Federal Minister for Sport, Kate Ellis, welcomed the announcement today.
"I am pleased that Federal Labor will be able to upgrade Henson Park in conjunction with the Marrickville City Council," she said.
"This Park represents a key piece of AustraliaR17;s sporting history, having played a major role in the 1938 Empire Games R11; an event that helped to first put us on the map as nation of proud sportspeople and sport lovers."
Funding for this contribution will be fully offset over the forward estimates, consistent with Federal Labor's commitment to return the budget to surplus in 2013, three years ahead of schedule.