CHELSEA are facing more delays in their plans for a new stadium.
The fan-led organisation which owns Stamford Bridge believes spiralling construction costs in the wider industry are stalling proposals for a 60,000-seater ground and other facilities.
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Blues’ chiefs have still not decided whether to redevelop their current home or to build on a new site.
Chris Isitt, chair of the board of Chelsea Pitch Owners, revealed in an email to fans: “To be clear, there is no proposal from the club to CPO, either for redevelopment or for moving.
“Nothing much has changed since CFC President/CEO Jason Gannon spoke at our AGM back in January.
“We understand the club has been active for some time in speaking to relevant external parties that would be involved in either staying or going; local authorities, GLA, TfL, etc.
“We understand that one of the main concerns at present is inflation in the construction industry and the subsequent spiralling of costs compared to other projects in London of a similar nature in the last few years.
“The purchase agreement in 2022 set a figure of £1.75billion to go towards the foundation, academy development and stadium redevelopment.
“Based on current estimates, all of that, and more, would be required just to get the stadium built right.”
Under previous owner Roman Abramovich, Chelsea were given planning permission to redevelop Stamford Bridge in 2017.
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But Abramovich mothballed the plans a year later amidst a row over delays in the British Government renewing his visa.
In April this year, the Blues announced that Hammersmith and Fulham Council’s planning committee had once more given the green light for a 60,000-seater stadium on the Stamford Bridge site.
But the club warned there were many more hurdles to overcome before work could even begin.
Isitt pointed out in his email that the Abramovich plans were for a stadium only, while the current owners who bought him out in 2022 have a much more ambitious vision.
The club has purchased extra land next to the Bridge with a view to building a much bigger entertainment complex.
Chelsea want and need to generate more income to keep up with their Premier League and European rivals.
Stamford Bridge’s capacity of 40,341 is well below the 60,000 or more seats that Manchester United , Arsenal and Tottenham have.
Analysis of gate receipts for the 2023/24 season put Chelsea in 10th place with £71m – less than half of the matchday revenue of Real Madrid (£153m) and behind Arsenal (£127m), United (£107), Tottenham (£102m), Liverpool (£90m) and Man City (£74m).
Chelsea Pitch Owners was set up after the club almost lost Stamford Bridge during financial problems in the 1970s and 1980s that led to the ground being sold to property developers.
To protect the future of Chelsea and its home since 1905, CPO bought the freehold of the stadium in 1997 with the help of a £10m loan from the club.
The result is that the ground cannot be sold or redeveloped without CPO approval. The group also has power over the club’s naming rights, which means it could prevent the club from using the name “Chelsea” if it moved somewhere else.
