The Board of Trustees at the Stoll Veterans charity have confirmed the acceptance of an £80 million bid from Chelsea for the 1.2-acre Stoll Mansions site near Stamford Bridge.
This decision comes after a meticulous nine-week consultation period and an additional six weeks of internal discussions within the Stoll charity.
Chelsea emerged victorious among a pool of 13 competing bids, enhancing their prospects for the redevelopment of Stamford Bridge.
The club will assume control of the area by 2025. The Blues aim to revamp their existing 40,000-capacity stadium – a figure which necessitates a much-needed expansion.
This redevelopment effort is being led by Todd Boehly and Clearlake Capital. It was one of the items on their agenda when they took control of the club last year from Roman Abramovich.
They want a stadium with a minimum seating capacity of 55,000.
Stoll chief executive Will Campbell-Wroe said (via the Evening Standard): “The Chelsea FC ownership group’s offer enables us to limit uncertainty for residents and offer support over a longer period of time.”
“The site at Fulham is just not fit for purpose for the long-term, and while this is a difficult time for our residents, it is something we must do to enable us to support veterans now and in the future.”
The final decision regarding whether to rebuild on the current land or relocate is pending.
Staying at Stamford Bridge is a favourable option among fans, honouring the club’s historic roots since its inception in 1905.
However, this would entail a temporary relocation during the reconstruction phase, with Fulham’s Craven Cottage identified as the primary candidate to host Chelsea home games.
Wembley Stadium, London Stadium and Twickenham remain under consideration.
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