"The ECDC, whose master plan does not include room for a football stadium, secured unanimous approval from Hammersmith and Fulham council last month. Suggestions that Tuesday's development has in effect ended the chance of Chelsea leaving Stamford Bridge for Earls Court are understood to be wide of the mark. Chelsea, whose owners recognise that Stamford Bridge's capacity of 40,343 is not big enough, have held talks with various figures who have a say over the future of the 17.8 hectare (44 acres) site."
"Yet it is understood that resounding local support for the ECDC will make it harder politically and financially for Chelsea to change the direction of travel. A key figure in London politics said that it was time for Chelsea to put up or shut up and make clear whether they are serious about Earl's Court. The estimated value of the land is expected to rise from 500m to 750m with planning permission in place."
ECDC secured planning permission for a £10bn housing and retail development at Earl's Court whose master plan does not include a football stadium. Chelsea consider Stamford Bridge's 40,343 capacity insufficient and have held talks with stakeholders about the 17.8 hectare (44 acres) site, but those discussions have not advanced. ECDC approval does not legally prevent other suitors from bidding, yet strong local support will raise political and financial barriers to a stadium proposal. Planning consent is expected to boost land value from £500m to £750m. The ECDC currently lacks financial backing but could attract government support, sovereign wealth funds, or private investors, increasing competition for the site and complicating Chelsea's relocation options.
Read at www.theguardian.com
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