Stamford Bridge Redevelopment Could Be Restarted by End of 2018
Newspaper claims Roman Abramovich has hired bank to 'entice' new investors
The redevelopment of Stamford Bridge, which was put on hold in May this year, could be restarted by the end of 2018, according to a report in the Daily Telegraph.
The newspaper claims that Chelsea's owner, Roman Abramovich has hired US investment bank, the New York based Raine Group to 'entice' new investors to the project, which was expected to cost between £500 million and £1 billion.
The Raine Group, which describes itself as "an integrated merchant bank advising and investing in high growth sectors of technology, media and telecom" has already been succesful helping Manchester City’s Abu Dhabi ownership to sell a 13% stake to Chinese investors.
There have been claims elsewhere that Roman Abramovich would be willing to sell the club for upwards of £2.5 billion, but Chelsea are denying this, saying he remains fully committed.
However, the Telegraph's new report says that, while he is not looking to sell altogether, he is "
willing to listen to offers to release equity".
And if suitable investors are found, the Telegraph says it understands the project will be restarted by the end of the year.
The club has been granted planning permission to demolish the current stadium along with all the other buildings on the site including flats, hotels and health club and build a new stadium on the existing Stamford Bridge site which would hold 60,000 spectators instead of the current total of 41,500 and include an elevated walkway over the District and West London railway lines.
The stadium was designed by architects by Herzog & de Meuron, who also designed the Beijing Olympic Stadium.
The club's planning application, which was slightly revised in August 2016, is as follows:
Demolition of existing stadium and buildings within Stamford Bridge Grounds and construction of a new 60,000 capacity football stadium (Class D2) with ancillary stadium-related uses including a Combined Heat and Power (CHP) plant, Club shop, kiosks and museum; restaurant/café (Class A3); together with the construction of a Decking Platform over the District Line railway to the north-west and a Decking Platform over the Southern mainline railway to the east; external concourse areas; associated excavation works; new pedestrian access from Fulham Broadway Station and Fulham Road; new vehicular access via Wansdown Place; car parking; landscaping and related works. (‘Amended Proposed Development’).
August 30, 2018
