How long is the platform on the loop line at Parson St? That could be refurbished for a fraction of the cost, though a bit of a trek to the ground and hundreds of fans crossing the main road there would be disruptive.
Do you mean Parson Street station?
Currently passenger trains can only call at this station on the Up Main or the Down Main lines. Both platforms are island platforms.
The Up Relief (previously known as the Up Goods under B.R.) is on the other face of the Up Main island platform. Trains from Portbury/Portishead are able to call at this platform face. However, currently the existing signalling does not provide any facilities for down direction trains to use this line.
Before the layout was rationalised, there was a line on the other face of the Down Main island platform. At one stage in the past, this was the Down Relief. But the thorough siding that existed from the 1970s was lifted in the 1990s by accident (contractors getting carried away lifted more than was planned apparently, at least, that was the rumour).
The biggest problem with Parson Street station is that access to all platforms is via staircases. Which both lead up to the road bridge above. There is nowhere for cars, busses or anything else to park or wait. And you can't really hold or control groups consisting of large numbers of people. As the space is limited. And the locals (it's a residential area) would not be delighted for their street to be used.
The ideal answer would be to build a specific platform complete with separate bay line that is long enough nearer the ground. But I can't see anyone finding the money to build this.
There was at one time plenty of land for this under/near the A370 overbridge. But that land has been taken up by the guided bus route.
There is space for sidings on both the upside and downside near Parson Street station. Just west of here, you have the former Freightliner depot on the upside. And the area where the downside sidings have been lifted opposite.