Chelsea’s plan to redevelop Stamford Bridge could set the club back a monstrous £1bn after estimated costs spiralled to double their original value.
The Times has reported that the Blues’ proposal to overhaul their current home, initially pencilled in to cost around £500m, could skyrocket to the billion pound mark due to the length of the redevelopment process.
Chelsea are yet to unveil official plans for their new ground, but the 60,000-seater stadium is set to cost way more than previously thought as the build grows ever more complex.
Swiss architects Herzog & de Meuron have drawn up the stadium’s proposed design, and it has been touted as one of the most ambitious and difficult builds in architectural history.
London rivals Tottenham, who are currently in the midst of their own stadium redevelopment, will see the improved White Hart Lane set them back to the tune of £800m after just two years of work.
With Chelsea’s decision to take five or six years to complete their own renovation and the complex nature of the build, estimations have been revised to put the development at £1bn.
Spurs stadium has ballooned to £800m, Chelsea’s now £1bn. Football stadium projects in this country never, ever, ever arrive on budget.
Be amazed if Bramley Moore gets built for £350m pic.twitter.com/xOC0yiuWfC
— Andy Heaton (@Andrew_Heaton) 17 November 2017
That cost is just £200m less than the stadium builds undertaken by NFL giants Atlanta Falcons and New York Giants across the pond and be down in part to other structural redevelopments that need to take place as part of the stadium’s plans.
Those include new paths above the District Underground line to allow for easy access to Fulham Broadway Underground station, the lowering of the pitch to create bigger stands and potential residential expansions to tidy up the area around the ground.
Chelsea owner Roman Abramovich has already stated that he does not plan to fund the entire build through his own financial wealth, and rumours have emerged recently that Chinese businessmen have held talks over a £500m investment in the development process.
Work is expected to begin on Stamford Bridge in the autumn of 2018, with the Blues due to move into a temporary new home – potentially Wembley – for three to four years while the redevelopment is carried out.