Chelsea Stamford Bridge rejig plans progress

Article posted by Coliseum, October 20^th, 2023

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The Premier League team Chelsea F.C.’s redevelopment of their home ground – the Stamford Bridge in London, England (UK) – has moved a step closer after the club had its offer to purchase 1.2 acres of land adjacent to the stadium accepted.

‘Mirror’ stated that the club will pay £80m to buy the land owned by Stoll, a housing provider for veterans, and it is expected to come into their possession in 2025.

The Chelsea Football Club is an English professional football club based in Fulham, West London (UK). Founded in 1905, they play their home games at the Stamford Bridge. The club competes in the Premier League, the top division of English football. They won their first major honor, the league championship, in 1955.

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The 40,341-capacity Stamford Bridge is a football stadium in Fulham, adjacent to the borough of Chelsea in West London (UK). It is the home of the Premier League club Chelsea F.C. With a capacity of 40,343, it is the ninth largest venue of the 2023-2024 Premier League seasons and the 11^th largest football stadium in England.

London (UK)-based Stoll is the leading provider of supported housing for veterans. Its work enables vulnerable and disabled veterans in need of support to live fulfilling, independent lives.

‘Mirror’ further stated that Chelsea’s owners, led by Chairman Todd Boehly, have been clear that they need to play in front of bigger crowds and boost matchday revenue as they continue to lose ground on rivals with newer and bigger stadiums. But they have not committed to any specific plan and could still attempt to build a new ground elsewhere, despite complexities with supporters and Chelsea Pitch Owners, who own the stadium’s freehold.

The Chelsea Pitch Owners (CPO) is a nonprofit organization that owns the freehold of the Stamford Bridge Stadium and the naming rights of the Chelsea Football Club. The Chelsea Pitch Owners was created in 1993 to protect the future of the club.

However, the Stoll deal has now at least provided the club with the ability to develop the West side of the Bridge. The stadium currently holds 40,173, making it the ninth-biggest ground in the Premier League this season.

Stoll said in a statement, “The Board carefully considered refurbishing the site or rebuilding part of it, and concluded that any refurbishment would require funds that the charity simply does not currently have, and would also require current residents to leave their homes. The sale will enable Stoll to establish new properties which would provide higher quality, more sustainable housing with greatly improved grounds, accommodation and facilities, while also securing the long-term financial sustainability of the organization and enhancing its services to the veterans.”

Stoll said that they will retain 20 flats on the site and residents will not be required to vacate immediately.

Observed Will Campbell-Wroe, Chief Executive, Stoll, “The veterans are the heart of this organization and we continue, as we have always done, to act in the best interests of the charity and its beneficiaries. The Chelsea F.C. ownership group’s offer enables us to limit uncertainty for the residents and offer support over a longer period of time. The site at Fulham is just not fit for purpose for the long term and while this is a difficult time for our residents, it is something we must do to enable us to support veterans now and in the future. We are enhancing our robust support program for our residents during this process and our commitment to them will continue to be at the forefront of all we do at Stoll.”

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