By Sean Fisher

21st Oct, 2023 | 7:13am

Sources: Chelsea to launch stadium plan after deal agreed

The Chelsea board are ready to begin the expansion of Stamford Bridge after completing an £80million deal for a nearby plot of land, Football Insider has been told.

Todd Boehly outlined his plans to redevelop Chelsea’s stadium following his takeover of the club in May 2022.

The hierarchy at Chelsea have discussed either expanding the existing Stamford Bridge or building an entirely new venue nearby.

Football Insider understands that the expansion of Stamford Bridge is by far the most likely option at this stage.

The Blues agreed a deal in principle with Stoll for a plot of land next to the stadium in the summer, and the deal has now been finalised by both parties, in what is a game-changing move.

As reported by The Mirror, Chelsea are set to pay £80million for the 1.2-acre plot adjacent to the stadium.

The land is expected to come into their possession for 2025, giving the Londoners time to draw up and finalise plans for their expansion.

Stamford Bridge currently has a capacity of 40,300, trailing considerably behind Chelsea’s Premier League rivals.

Boehly intends to grow that capacity to 60,000, which would provide a significant boost to Chelsea’s matchday revenue.

Matchday revenue in Chelsea’s latest 2021/22 accounts was recorded at £72million, while rivals Manchester United and Tottenham both exceeded £100million.

With the deal for the nearby plot of land now completed, Chelsea are set to officially begin the process of planning their stadium project.

However, while the project is finally set to get underway, Boehly has previously informed Chelsea fans that any stadium plans will likely not be completed before 2030.

In other news, Kieran Maguire: Todd Boehly set to ‘pressure’ staff as Chelsea look to strike new deals