Chelsea receive huge boost for potential '£2bn renovation of Stamford Bridge'

The club also agreed to buy £50m deal to buy site next to their stadium

Chelsea's plans to expand Stamford Bridge for $2 billion were given a boost with the agreed-upon sale of a key property near the current stadium.

Under former owner Roman Abramovich, the club had numerous challenges in carrying out the extensive upgrades, however, money was set aside for the stadium's reconstruction as part of the £4.25 billion purchase of the club by co-controlling investors Todd Boehly and Clearlake Capital in May 2022.

In April 2023, it was decided against moving the arena to the neighbouring Earl's Court. Since then, all attention has been focused on remodelling the current 40,341-seat stadium.

According to the Guardian, when the council of directors for Stoll, the housing organisation that owns the two-acre land, approved a deal in principle, developments may be going in the right path for the owners of Boehly and Chelsea.

In October 2022, Mail Sport claimed that the organisation, which operates 157 supported houses for veterans, has put most of its two-acre property up for sale. Chelsea was predicted to make a bid for 60% of the land, or 1.2 acres, which is worth £50 million.

When it was revealed that previous owner Abramovich had made a covert contribution to Stoll, considered to be valued at hundreds of thousands of pounds, Chelsea's connection to the business created criticism in 2018.

The organisation then decided to keep nearly 30 of its apartments empty rather than give houses to vulnerable ex-soldiers, a decision that is thought to have helped Abramovich's ambitions for a new stadium.

Projects ultimately went on hold after Abramovich withdrew his request for a UK visa and reportedly refused to make any additional investments in Britain.

However, there is a coherence to Chelsea's projects: Jonathan Goldstein, the club director, remains in charge of the expansion plans, and former project leader Hugh Rosen is back to oversee the work.