Junction Oval is due to be upgraded for the 2016/17 season to first-class status. Presently, CA and AFL have an in-principle agreement that the AFL can use the MCG from mid March 2016 but there is yet to be anything official at this stage. That would mean Victoria would have to host any Sheffield Shield final (should they win the right to host) outside Victoria again.
I believe the upgrade of Junction Oval also has a $5million shortfall at the moment as well.
I have no confidence that the Junction Oval upgrade will be complete in time for the 2016/17 season. It wouldn't surprise me if the Vic Labor Party screw the entire project.
Time will tell!