Chelsea make huge progress to complete £80m deal amid Stamford Bridge redevelopment plans

Chelsea have moved closer towards their plans of redeveloping Stamford Bridge after winning the race to acquire a 1.2 acre plot of land next to the ground.

Following the Todd Boehly-Clearlake Capital takeover in May 2022, Chelsea have explored all options over their stadiums plans and the most likely option emerged of remaining in west London and redeveloping Stamford Bridge, which could cost around £1.5 billion.

Now Veteran housing association Stoll have confirmed Chelsea have won the race to acquire the majority of the Sir Oswald Stoll Mansions site for £80 million, subject to resident consultation.

In a statement on Wednesday, Stoll said: “Today we have announced that we have confirmed a sale in principal, of the majority of our Fulham site to Chelsea FC ownership group, subject to resident consultation which begins today. The proposed sale would enable us to establish new properties + better services for veterans.”

As reported by the Daily Telegraph, the consultation period will end after nine weeks on September 20 when Chelsea will learn their fate over whether they have got a full agreement over the line.

Chair of trustees air vice-marshal (retired) Ray Lock confirmed to the Daily Telegraph why Chelsea were chosen as the preferred bidder over 12 other suitors.

He said: “The board assessed many factors, and concluded that the Chelsea FC ownership group offered the strongest bid in terms of how it would support Stoll and our residents during the process, its financial offer which would secure the future sustainability of the organisation and its understanding of the charity and the importance of continuing to have a positive impact on veterans’s lives for generations to come.”