Chelsea co-owner Todd Boehly has revealed his preference is for a new-build stadium and GIVEMESPORT understands the 51-year-old favours the Earl's Court site.
In an interview with Bloomberg, Boehly added that a lack of alignment between himself and Clearlake’s majority owners Behdad Eghbali and Jose E. Feliciano could lead the parties to go their separate ways.
However, Boehly did point out there is general project alignment despite well-documented strategic differences. The onus is on Boehly to find a solution given Clearlake are the majority owner and have no intention to leave Chelsea.
“We have been aligned on what we are trying to do and build,” said Boehly, speaking in Hong Kong when he was asked to address an ownership divide.
“It’s a team that’s young. It’s a team that’s got long contracts. And all these things were new, and to do all these things we have done it is obviously because we are aligned.
“So if you look at what is actually happening and don’t follow the shiny lights, you will see there is core stability and there has been a long-time theme. And I think we are executing on a plan that ultimately will have Chelsea where it belongs. I mean we are sitting in the top four right now.
“I think the status quo is just fine. We have learned from each other and I think we are going to be able to work it out any which way.
“We have to think about long-term what we are trying to accomplish. We have a big stadium development opportunity that we have to flesh out, and I think that’s where we either align or ultimately decide to go our different ways. But what has been written and talked about has much more drama than what has actually happened."
“Inside of London, it’s really complex. It’s not like we are building something in a rural environment. We have a lot of constituents to make sure we care about. Certainly the Chelsea fan base is one of them. Long-term, I think we’re going to build something new, and I think we’ll figure it out."
Boehly Favours a Switch to Earl's Court
Blues assessing options ahead of making final decision over home
Todd Boehly
Chelsea are currently exploring options, with stand-by-stand redevelopment, a new build on the Stamford Bridge site or a move to Earl's Court all potential solutions.
Each comes with its own unique challenges. Expanding Stamford Bridge's 41,875-capacity is viewed as expensive and time-consuming. There is a likelihood that on-off redevelopment would be necessary over several years once the initial upgrades are complete. And there is no guarantee Chelsea could continue playing at Stamford Bridge while work is undertaken.
Building a new stadium on the Stamford Bridge site, and the recently purchased adjacent 1.2-acre Oswald Stoll Mansions site, requires finding a new home that is both in or close to west London and big enough. Twickenham has been mentioned, but is eight miles from Stamford Bridge and unpopular with parts of the fan base. And there are still design hurdles to overcome. In addition, the Stoll veterans are not obligated to vacate until 2027, slowing down construction.
A move to Earl's Court requires permission from the Chelsea Pitch Owners (CPO), who control the freehold for Stamford Bridge and ownership of the name ‘Chelsea FC’. And Earl's Court Development Company (ECDC) are moving ahead with their own 7.5 million sq ft regeneration plans and insist a football stadium is not part of their thinking. Chelsea held talks last year with Transport for London and the real estate developer Delancey, but even if the CPO agreed to a move away from Stamford Bridge, ECDC are currently driving ahead with their own plans.
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GIVEMESPORT understands that Boehly currently favours a move to Earl's Court. Clearlake, meanwhile, haven’t yet formulated a singular preference since a thorough assessment of all options, and engagement with relevant stakeholders, is ongoing. It is possible further clarity over Chelsea's stadium plans emerges before 2025 is out.
Majority owners Clearlake, who have 61.5% of the shares, are comfortable with the current status quo at the club and not looking to sell. A firm belief remains that the project will pay off. Boehly would also prefer to stay at Chelsea despite hinting at a parting of ways. Like Eghbali and Feliciano, Boehly has veto power over a plethora of major decisions, ranging from share sales to third parties to manager hirings and firings.
Chelsea’s stadium plans are currently being led by chief executive Jason Ganon, while board member Jonathan Goldstein was involved in the £80million purchase of the Stoll land, and in addressing lapsed planning permission to expand Stamford Bridge to 60,000, originally secured by former owner Roman Abramovich.
West Londoners Engaged in Talks Over Plans
General consensus is newly-built stadium would be ideal
General view of Chelsea's Stamford Bridge
In the past year, there has been a shift away from using redevelopment specialists, with Populous, who designed the Tottenham Hotspur Stadium, now among the firms engaged with Chelsea over potential plans. Previously, architect Janet Marie-Smith, who oversaw Boehly’s £80million Dodger Stadium renovation, was heavily involved but is no longer part of the project.
Clearlake-Boehly had to address their plans for Stamford Bridge as part of the tender process to buy the club. As a result, an initial approach was on paper even before they acquired the club for around £2.3billion in the summer of 2022. However, all options have since been exhausted. That's why it has proven a time-consuming process and why stand-by-stand redevelopment is yet to be internally discounted. There is a general consensus that a new-build would be ideal, but also an appreciation that all approaches are more complicated than for other Premier League clubs going through the same process.
Tottenham had land next to White Hart Lane, and Wembley in north London as a temporary home. Manchester United’s new 100,000-seater stadium is right behind the south-west corner of the Stretford End and the wider project-financing is likely to involve public funds.
Chelsea hope to have a new or developed stadium by the early-to-mid 2030s, despite Boehly stating the project has “16-20 years” to come to fruition. It’s understood Boehly was referencing the time for both building and generating consistent revenue streams rather than alluding to a target for opening.
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