finally, Chelsea owner makes decision on redevelopment of Stamford Bridge
Thank you for reading this post, don't forget to subscribe!
Todd Boehly, the billionaire owner of Chelsea, has reaffirmed his commitment to a significant renovation of Stamford Bridge despite concerns that the team would go elsewhere.
The size of Stamford Bridge makes it substantially smaller than the other “Big Six” Premier League clubs. According to numerous sources, the board has thought about redeveloping Stamford Bridge or moving elsewhere to construct a new stadium.
Boehly has now assured the stadium freeholder that, rather than departing, he will be developing Stamford Bridge.
The Chelsea Pitch Owners shareholder group, which holds the freehold of the London club’s stadium, declared: “The new owners have committed to redeveloping the stadium.
So when this initiative starts to take shape, it is anticipated that the group’s workload will expand.
Jonathan Goldstein, a co-owner of Chelsea, has previously disclosed plans to renovate Stamford Bridge in 2019.
“We are heavily considering redevelopment,” he added. “We will begin the planning process over the course of the next year and we’ll be hoping that the central government would support it and see it as an engine for growth.
The control of interest rates is the only issue, of course, as it significantly increases the cost of development.
He said, when asked if the club would slow down the process, “No, no, we’ll keep going as quickly and as hard as we can.
“It’s a massive project with a lot of stakeholders, and we’re just getting started. However, we will continue because we have faith in the industry, Chelsea FC, and the neighbourhood, and we are aware that over time, Stamford Bridge will require renovation.
The UK is currently on hold, according to three sovereign wealth funds, he continued. They would like to observe and wait. At this time, Britain appears to be uninvestable.
