The consortium includes two architects: London-based KSS Architects and Cardiff-based Holder Mathias Alcock. Gardiner & Theobald is quantity surveyor, Arup is structural engineer and Chapman Warren is traffic and planning consultant.
A source said the company had already lined up an operator for the swimming pool and was talking to a potential operator for the arena.
He said: "We've been begging for something to happen for some time. All we're waiting for now is the council. We're very keen to move forward with it."
Remediation work for the scheme is expected to begin by the end of the year.
The scheme, which is being organised by Cardiff council, was conceived in 1997 as a vital part of the city's regeneration.
The plan is to build a sports village on 32.4 ha of disused land at the Ferry Road peninsula in Cardiff Bay.
We’ve been begging for something to happen for some time. All we’re waiting for now is the council
Source on Conrad Phoenix team
It will have sports facilities, including an Olympic-class 50 m pool, a 10,000-seat arena, athletics facilities and an ice rink, in addition to shops and housing.
The consortium has taken over from another developer, Capital & Regional, which pulled out earlier this year.
The council and Capital & Regional team initially decided to split the project into elements, each with its own project team. This decision was reversed after Capital & Regional's departure, leaving firms unsure about what they could bid for.
The council decided to continue with the project with a new design and a single developer that would be responsible for all the elements.
Cardiff council has retained the services of Tyco Philips and HBG, which were in the original development consortium, as advisers.
