Chelsea moves step closer to stadium expansion with land purchase

Stoll, which provides housing for veterans, has announced today (Tuesday) that it has agreed to sell the majority of its Fulham site to Chelsea in a move that will make it easier for the Premier League club to carry out a major renovation of Stamford Bridge.

In July, Chelsea agreed a deal in principle to buy the area of land next to the stadium. The 1.2-acre site is located to the west of the stadium, near Fulham Broadway tube station.

Stoll has now finalised an agreement to sell the majority of the site to Chelsea following a nine-week resident consultation. Stoll said the sale will enable the company to establish new properties and better services for veterans, and secure its financial sustainability.

The sale is subject to contract with completion expected in early 2024. Financial terms of the agreement have not been disclosed but the Evening Standard reported that the deal is worth £80m (€92m/$97m).

Chelsea has been weighing up a major redevelopment of Stamford Bridge or building a new stadium from scratch. Although Chelsea has not yet formally committed to any project, the closing of the deal with Stoll could make the redevelopment of Stamford Bridge a more viable option.

Last month, it was reported that Chelsea had secured a $500m investment from US-based hedge fund Ares Management to fund a potential stadium development project.

Reports emerged in March that Chelsea was considering building a new £2bn stadium on the site of Stamford Bridge, with the club potentially facing up to four years at a temporary home while the work is carried out.

Reports have previously suggested that Chelsea would consider building a new 60,000-seat stadium at Earl’s Court, but in March the company overseeing the regeneration of the site categorically denied reports that it was in talks with the club.

With a capacity of around 40,000, Stamford Bridge is the smallest stadium of the Premier League’s ‘big six’. Owner Todd Boehly completed his acquisition of Chelsea in May last year and has made the redevelopment of Stamford Bridge a key priority.

Stamford Bridge has served as Chelsea’s home since 1905.