Newsnow: Chelsea won £80 million bidding battle for a 1.2 acre land to rebuild Stamford Bridge against next season

 Chelsea has won a bidding war to purchase a 1.2 acre block of land next to the current stadium, which is a key step toward committing to the £1.5 billion redevelopment of Stamford Bridge. The land has been sold in principle to Chelsea, who are thought to have agreed to pay somewhere around £80 million to beat out 12 other bids, according to housing association Stoll.

Stamford Bridge
Photo showing Stamford Bridge, London.

According to the reports, Even though purchasing the site is a significant step in that direction and suggests the club's owners are pursuing that goal, it does not offer a definite assurance that Chelsea will stay at Stamford Bridge. Residents' input is still being sought before a decision is made regarding the sale of the Stoll site to Chelsea; this consultation will finish on September 20.

The club will be able to open up a sizable area in front of the stadium to create a fan experience and develop offices after purchasing the Stoll land, albeit Chelsea still has a lot of logistical challenges to solve before they can rebuild Stamford Bridge on the current location.

The fact that LA Dodgers executive vice president of planning Janet Marie Smith and Chelsea board member Jonathan Goldstein have been working around the clock on the Stoll site purchase for several months highlights how crucial a successful purchase of the property is.

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The chair of the trustees, air vice-marshal (retired) Ray Lock, confirmed that Stoll has reached an agreement in principle to sell to Chelsea. He added: "The board assessed many factors and concluded that the Chelsea FC ownership group offered the strongest bid in terms of how it would support Stoll and our residents during the process, its financial offer that would secure the future sustainability of the organization and its understanding of the charity and the importance of continuing to have a strong relationship with the community.

Chelsea has also considered the benefits and drawbacks of transferring the stadium to a new location, which would require approval from the Chelsea Pitch Owners group, as opposed to trying to renovate Stamford Bridge stand by stand, which has been ranked as the least likely option.

However, staying at Stamford Bridge and renovating the stadium is now ranked as the most likely scenario, even if a final decision has not yet been made, given the £80 million commitment to buy the Stoll site, according to reports.

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