Chelsea are facing fresh concerns around their proposed stadium plans under Todd Boehly.
An increase to their current capacity at Stamford Bridge was said to be a major priority for Boehly an Clearlake Capital during their acquisition of the club in 2022, with plans quickly set out to redevelop their London home.
Talking to Football Insider, former Manchester City financial adviser Stefan Borson highlighted the issues facing Clearlake Capital and any proposals to move forward for the Blues.
Stadium plans too expensive?
Following their takeover of Chelsea in 2022, Clearlake Capital and Todd Boehly have outlined several proposals to increase their home capacity, covering both an expansion of Stamford Bridge and a potential relocation with Earl's Court touted.
That switch is seemingly off the cards, though, with Hammersmith and Fulham Council approving an alternative site plan on November 26, 2025 for a £10bn housing and retail project on the footprint outlined as a target for Chelsea.
Indeed, according to Stefan Borson, it is now believed that the Blues hierarchy may leave the stadium problem to the next owners given its complexities and geographical struggles, after Boehly said the building of a new stadium may not come until 2042.
Borson expanded on the issues, telling Football Insider: “It looks like an intractable problem. I don’t know.“
“There’s not that many options in that part of London, and any of these options are hugely expensive.“
“That includes staying where they are and redeveloping Stamford Bridge.”
Clearlake Capital currently holds a 61% ownership of Chelsea, while Boehly holds much of the remaining 39% alongside Mark Walter and Hansjorg Wyss.
Is Stamford Bridge holding the Blues back?
Initial plans to grow Chelsea's current home came about due to the new ownership's desire to keep up financially with Premier League rivals and enjoy similar income boosts, with Stamford Bridge only ranking as the English top flight's 11th largest ground.
The club's latest accounts for 2023-24 reveal total income of £469m, with £80m of matchday income.
Borson continued to reiterate expectations for any expansion or move to come under new ownership, stating: “I wouldn’t be surprised if we keep hearing these sorts of stories for the next X number of years and, ultimately, it’s left on the table for the next owner,” said Borson.
“You patch up the stadium, develop it as best you can, and leave it as the potential upside for the next owner.”
FGG says: Expansion or relocation clear next step for Chelsea
An improvement of Stamford Bridge's current capacity of just over 40,000 should be a no-brainer for Chelsea, albeit while facing complex real estate issues, particularly in the capital's most desirable location.
City rivals Tottenham Hotspur are a clear blueprint, though, with their new stadium holding 62,850 as well as being the new host of many non-football events including one-off sporting matches and concerts, opening up large amounts of revenue opportunities which should fund the growth in time, while Manchester United, Manchester City, Liverpool and Arsenal are also at a clear advantage over Chelsea in terms of attendances and subsequent matchday income.