Chelsea Football Club has confirmed the sale of a site in Fulham that will expand the footprint of Stamford Bridge for a proposed stadium redevelopment. The sale was made to Stoll veterans housing charity, and it will allow Chelsea to enhance their stadium plans.
The deal between Chelsea and Stoll was initially reported by The Athletic in July. Chelsea was given preferred status over 12 other bids for the majority of the 1.2 acre Sir Oswald Stoll Mansions site, which is located between Stamford Bridge and Fulham Broadway tube station. However, the sale was subject to resident consultation.
After a nine-week consultation period, Stoll’s board of trustees announced that the sale will be completed in early 2024. However, Chelsea is not expected to take possession of the land until the end of 2025 at the earliest.
According to a statement from Stoll, the board carefully considered refurbishing the site or rebuilding part of it. However, they concluded that any refurbishment would require funds that the charity currently does not have, and it would also require current residents to leave their homes. Therefore, the sale will enable Stoll to establish new properties that provide higher quality, more sustainable housing with improved grounds, accommodation, and facilities. Additionally, it will secure the long-term financial sustainability of the organization and enhance its services to veterans.
Stoll will retain 20 flats on the Fulham site, and residents will not be required to leave their homes immediately. There will be a leaseback period that allows the charity to support their moves into alternative accommodation. Stoll’s chief executive, Will Campbell-Wroe, emphasized that the veterans are the heart of the organization and that they will continue to act in their best interests. Campbell-Wroe also expressed gratitude for Chelsea FC’s offer, which enables them to limit uncertainty for residents and offer support over a longer period of time.
The sale of the Fulham site is not the first time it has changed hands. Previous owner Roman Abramovich agreed to acquire the land for £50 million ($64.5 million) back in 2018. However, the deal was put on hold when Abramovich’s stadium project was paused indefinitely amid tensions with the UK Government over his investor visa.
The sale of the Fulham site gives Chelsea greater flexibility in their stadium planning. While building a new stadium away from Stamford Bridge has not been ruled out by owners Todd Boehly and Clearlake Capital, it would require approval from Chelsea Pitch Owners (CPO), who own the freehold to Stamford Bridge. Any permanent move away from the club’s historic home would likely face significant fan resistance.
The expansion of Stamford Bridge is an exciting development for Chelsea Football Club. It will provide them with the opportunity to create a state-of-the-art stadium that meets the needs of their growing fan base. The sale of the Fulham site to Stoll veterans housing charity demonstrates Chelsea’s commitment to supporting veterans and improving their living conditions.
Overall, this land deal marks an important step forward for Chelsea’s stadium redevelopment plans. As they continue to work towards enhancing their facilities, fans can look forward to an even better matchday experience at Stamford Bridge in the future.