How Chelsea masterplan will transform the club as £80m deal already signed
Amid the drama going on in the Chelsea boardroom, there has been a major update on a plan that could completely rewrite the club’s future.
Two factions, led by Todd Boehly and Behdad Eghbali, are reportedly fighting to buy each other out after relations within Chelsea’s senior rank have soured.
After sinking billions of pounds on transfers with almost nothing to show for it in terms of meaningful results on the pitch since the takeover in May 2022, it seems that regime change is on the horizon.
On face value, it would appear that Eghbali’s Clearlake Capital have the best chance of winning full control of Chelsea given that they own 61 per cent of the club’s equity.
However, the reality is far more complex and it will likely take months until a resolution is reached.
When the takeover was complete, many headline figures stated the price paid to Roman Abramovich as £4.25bn. However, the actual fee was £2.5bn, coupled with a £1.75bn spending commitment.
That spending commitment was pledged for the women’s team and to improve infrastructure.
The redevelopment of Stamford Bridge is by far the biggest individual project that will change the soul of Chelsea for years to come.
And amid the corporate chaos, there have been fresh developments on this front.
Earl’s Court Stadium back on the agenda
Chelsea want to either build a new stadium or boost capacity at Stamford Bridge to beyond 60,000.
They have already purchased a plot of land adjacent to the West London stadium for £80m with a view to expanding on the existing site.
However, The Guardian are now reporting that Chelsea have held further talks about constructing a brand new stadium at Earl’s Court, just over a mile north of Stamford Bridge.
The report claims that the club have been in contact with Transport for London about the necessary transport upgrades to the surrounding area, as well as the real estate developer Delancey.
Significantly, the Earl’s Court Development Committee have responded, saying: “There is no plan within our plans for Chelsea FC to relocate to the Earl’s Court site.
“We have a fully detailed design, shortly to be registered with both local authorities, which prioritises the delivery of thousands of homes and jobs, culture and open space through a well-designed and considered master plan which has evolved over four years of engagement.
“This will see development commence in 2026 with the first residents and occupiers moving in from 2030. This is, and will remain, our primary focus.”
The value of a new stadium for Chelsea
Research from Sports Business Institute have found that Chelsea make more money per fan, per matchday than any other Premier League club.
They narrowly edged out Tottenham, with £100.70 per fan compared to Spurs £100.50.
Based on that metric, Chelsea would likely be able to at least match Spurs’ matchday income of £118m per season at the last count.
With PSR a continuing concern and likely to remain that way for years to come, supercharging their matchday income would be invaluable for Chelsea, giving them flexibility and breathing space to spend.
And for all the madcap developments we have seen from the Boehly-Eghbali regime in the last two years, both are clearly in it for the long haul and think there is massive value to be realised.
from Latest Chelsea News and Updates - The Chelsea Chronicle https://ift.tt/Ra05KDL
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