Todd Boehly’s latest £65million Chelsea splurge with deal in principle agreed

Chelsea are making significant strides towards expanding Stamford Bridge having reached an agreement in principle to acquire a plot of land adjacent to the stadium.

Owner Todd Boehly is looking to revamp Chelsea's stadium, which currently has the smallest capacity among the Premier League's 'Big Six'. With the purchase of the land worth £65million, the Blues chief wants to increase Stamford Bridge's capacity from 42,000 to 55,000 seats.

The plot of land, measuring 1.2 acres, is currently owned by veterans charity Stoll. While a deal in principle has been agreed, a presentation is scheduled for Wednesday to outline the results of a nine-week consultation with local residents.

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However, there have been concerns raised by some locals regarding the proposed expansion plans, particularly among approximately 100 military pensioners who currently reside at the Sir Oswald Stoll Mansions site. The charity has assured that 20 flats will be retained, and the funds generated from the sale of the land will be invested in new properties to ensure the best possible outcome for residents, reports the Mirror.

Another establishment that could be affected by the sale of the land is Fulham Medical Centre, which has warned that over 6,500 patients may be left without a general practitioner if the transaction goes through. A campaign called "save our surgery" has been launched to address this issue, as there are currently no plans for a medical facility in any future development.

Chelsea have long been searching for an opportunity to expand their stadium in order to keep up with their rivals' state-of-the-art grounds and enhance their matchday revenue. However, rebuilding Stamford Bridge stand-by-stand is not considered a viable option.

Therefore, if the expansion project proceeds, Chelsea will need to find a temporary home during the construction phase. Twickenham has shown reluctance to host the club, leaving Craven Cottage and Wembley Stadium as potential alternatives.

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To secure the land adjacent to Stamford Bridge, Chelsea had to overcome competition from 13 other contenders. Leading the project on behalf of the club is Jonathan Goldstein, a London-based property developer and CEO of real estate company Cain International.

The Blues have not yet formally finalised any plans for future stadium expansion. Supporters will be presented with two options: either demolishing and rebuilding Stamford Bridge in its current location or relocating to a new site, with the final decision made by the Boehly-Clearlake ownership group.

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