Chelsea take major step towards finally building £500m new stadium
09/10/2024 11:59 AM
Chelsea have reportedly taken a crucial step towards finding a new and, most importantly, larger home.
Stamford Bridge has been Chelsea‘s ground since 1905, with its capacity growing up to 40,341.
However, the Blues’ ownership are keen to expand on that figure.
With Chelsea boasting one of the biggest revenues in global football already, it makes sense to improve on Stamford Bridge’s capacity.
It looks like the Blues are now inching closer towards that, with The Guardian reporting the club has held discussions with Transport for London (TfL) and real estate developers Delancey over a move to a new venue yet to be built in Earl’s Court.
The report claims Chelsea have zeroed in on the Lillie Bridge depot as the location for where they would build a new stadium, with new chief executive Jason Gannon spearheading discussions with the TfL and Delancey.
However, securing the venue will not be a straightforward task as the report states the Earl’s Court Development Committee (ECDC) hopes to build a multi-purpose development, with a football stadium not part of the plan.
Additionally, Chelsea must reach an agreement with Chelsea Pitch Owners, who own the freehold of Stamford Bridge, if they are to leave their home ground.
The Guardian adds that a ‘conservative estimate’ of the Earl’s Court site’s value is £500m.
Another stumbling block that could pump the brakes on Chelsea’s stadium plans is the internal battle between the club’s co-owners.
The relationship between Clearlake co-founder Behdad Eghbali and Chelsea chairman Todd Boehly is at breaking point due to their differences in the club’s transfer policy, results and the slow process to build a new stadium.
talkSPORT understands Clearlake, who own 61.5 per cent of Chelsea, are not interested in selling up and want to add to their shares.
As for Boehly, who owns a share of the remaining 38.5 per cent alongside Hansjorg Wyss and Mark Walter, he is believed to be open to offers.
Chelsea have sought a move away from Stamford Bridge for some time.
They attempted to purchase the Battersea Power Station in May 2012 under the ownership of Roman Abramovich but had a bid rejected, with the site turning into a shopping and leisure centre instead.
Chelsea also unveiled plans to build a brand new, 60,000-seater stadium at the Bridge and even received full planning permission from Hammersmith and Fulham Council in 2017.
However, that was placed ‘on hold’ in 2018, with ‘no further pre-construction design and planning work’ to occur.
Chelsea claimed the key reason for the 60,000-seater project not continuing was because of the ‘current unfavourable investment climate’.
The club’s plans for a new venue were placed on hold once more when Abramovich sold the club in 2022 after Russia’s invasion of Ukraine.
