Chelsea suffered the most embarrassing setback of their plan to construct a new 60,000-seater stadium fifteen years ago this week. While the team struggles on the pitch under new manager Xabi Alonso, the owners still face many of the same problems that plagued Roman Abramovich.

SunSport reported how Abramovich and Chelsea faced humiliation in October 2011 after losing a crucial vote. The club wanted to buy back the Stamford Bridge freehold from the fan-led Chelsea Pitch Owners organisation. Behind-the-scenes scheming was exposed, and bosses failed to secure enough support. The Russian billionaire never came close to realising his stadium vision.

Who Are The Chelsea Pitch Owners?

The organisation owns the Stamford Bridge freehold. In 1993, CPO was founded after a loan of £10m from the club at a low interest rate to buy the stadium footprint. Fans repaid the money by purchasing shares in CPO, giving them a say in the future of the ground. CPO rules provided an effective veto over any move by owners to take the club elsewhere while keeping the Chelsea name.

What Happened In October 2011?

Abramovich wanted a new stadium to bridge the matchday revenue gap with rivals. CPO rules required 75 per cent approval from shareholders to sell the freehold. During the three-week notice period, supporters noticed individuals buying the maximum of 100 shares at £100 each, totalling £10,000 per person. Investigations showed links to Abramovich or club hierarchy, including a security team member and a lawyer from chairman Bruce Buck's firm. On voting day, Buck and chief executive Ron Gourlay received a hostile reception. Trust broke down, and the sale was rejected with only 61.6 per cent approval.

What Happened Next?

Abramovich pursued a modern 60,000-seater stadium. In 2017, the club gained planning permission to redevelop Stamford Bridge for £500m, which rose to £1billion. In May 2018, Abramovich and the club stopped the project due to a visa dispute and an unfavourable investment climate. Planning permission lapsed in 2020. After Russia invaded Ukraine in early 2022, UK sanctions forced Abramovich to sell Chelsea. The BlueCo consortium, fronted by Todd Boehly and funded by Clearlake Capital, completed a £2.5billion takeover in May 2022.

How Does The Recent Change In Chelsea's Ownership Structure Affect The Stadium Project?

Disagreements over a new home for Chelsea led chairman Todd Boehly and Mark Walter to sell their stakes last month. Boehly and Behdad Eghbali agreed on needing a project costing up to £5of billion, but disagreed on details and debt without total control. Clearlake's buyout gives them full power, though external obstacles remain.

What Are Chelsea's Options?

Chelsea have narrowed choices down to the Earls Court Exhibition Centre site and revamping Stamford Bridge. Late last year, the Earls Court Development Company gained outline planning permission for housing, offices, cultural venues, and green space, omitting a 60,000-seater arena. Staying at Stamford Bridge carries emotional pull and past planning permission, but remains difficult due to enclosed space, train lines, and the team needing to relocate for five to six years.

Why Do Chelsea Still Think There's A Chance Of Earls Court?

Chelsea believe Prime Minister Andy Burnham could be their saviour. Construction on the ECDC project was scheduled to start this year, but talks continue with local councils regarding Section 106 agreements. The project must be referred to the Greater London Authority for final approval. Burnham committed the government to building social and affordable housing, which could bring pressure from central government for more housing at Earls Court, potentially opening a door for Chelsea.

But How Likely Is That?

Most people consider it unlikely. The Exhibition Centre was demolished by 2017, and pressure remains to use the prime city centre site. Switching to a sporting arena would require huge infrastructure changes and years of negotiations.

Why Do Chelsea Need A New Stadium Anyway?

Chelsea make over £1m less from every home game than all major Premier League rivals except Manchester City. Arsenal top ticket income at £5.3m per match, followed by Spurs on £4.5m, and Manchester United and Liverpool close behind. Stamford Bridge holds a 40,000 capacity and brings in about £3.2m per game. City make £3m per match. Over a season, Chelsea earn tens of millions less.

Why Is A New Stadium Important To The Owners?

The BlueCo Consortium spent just under £2.5billion buying the club, pledging £1.75billion on players and infrastructure. A new stadium is the major project that could significantly increase Chelsea's value and boost expected profit when Clearlake sells the club.