Todd Boehly names Chelsea stadium priority and says 'it's already started'

Chelsea co-owner Todd Boehly has spoken on the club's plans for a new stadium as he revealed the biggest lesson learned from his time so far at the helm.

Alongside investment firm Clearlake Capital and a consortium including Swiss billionaire Hansjorg Wyss, Boehly acquired Chelsea back in May 2022. The sale process was expedited due to sanctions placed upon former owner Roman Abramovich by the UK government.

So far it has been a bumpy ride for the new Chelsea owners. Despite more than £1billion spent on transfers, including breaking the British transfer record twice in the space of a year, the club has faltered on the pitch, with two managers sacked and four having been in charge of the team so far under the current ownership.

Last season’s 12th-placed finish meant that there was a lack of Champions League football this season, something that will continue into the 2024/25 campaign with the club’s best hope a spot in the Europa League for 2024/25. The heavy transfer spending and long-contracts of seven, eight, and nine years have been features of the Boehly/Clearlake reign, but while competitive success is the target, Boehly revealed the plan for the next decade at the club with Stamford Bridge at its core.

Speaking at Bloomberg’s Qatar Economic Forum, Boehly said: "Well, we're working on this. What's the stadium plan going to do?

"I think we've got a really unique spot in London. So many people can walk to come to a Chelsea game.

READ MORE: FIFA decision moves Arsenal, Chelsea, and Tottenham step closer to playing '39th game' abroad

50% OFF! Sign up to The Bottom Line newsletter with expert football finance analysis from Dave Powell

"We're basically in the heart of West London. But, you know, we only have a stadium that seats about 40,000, and to be able to upgrade the quality of the stadium and the size of the stadium is really a priority for us over the course of the next decade.

"It's already started. You have to have a lot of conversations with a lot of constituencies because you're in the middle of London. The good news is you're in the middle of London. But the bad news is you're in the middle of London."

Boehly was also quizzed on what he felt was the biggest lesson learned from his and Clearlake’s time in charge thus far, a period that has been filled with tumult.

"I think the number one thing is you've got to be patient," he added. "I think when you're putting something together and you're expecting it to come together really quickly, the reality is that anything really good takes a little bit of time."