Sources: Chelsea face intense competition from two rivals as £50m bidding war begins

Chelsea face intense competition from property developers in their bid to acquire a plot of land adjacent to Stamford Bridge to facilitate the stadium’s expansion, sources have told Football Insider.

Studies have found that the 1.9-acre site, which is owned by veterans’ charity the Sir Oswald Stoll Foundation and is expected to be sold for around £50million, could accommodate 233 new residential units.

The land is situated in one of London’s most desirable areas and will generate enormous returns for whoever acquires it, whether that be in the form of rental income for new landlords or extra matchday cash for Chelsea.

A source with expertise in the Fulham property market told Football Insider that commercial and real estate consultancy firm Knight Frank has been appointed to oversee the bidding process.

It is understood that Chelsea and at least two other parties have registered their interest in the site, although it is not known if any have yet submitted a formal proposal.

SW6 residents have been consulted by Knight Frank as part of the research process.

Click below for exclusive transfer news

Chelsea will perhaps be buoyed by news that Mitchell Glassey, with whom they enjoy a good working relationship, has joined the board at Knight Frank as an associate director.

The club have long been desperate to raise capacity at their West London home which currently houses just shy of 42,000 spectators.

They already own much of the land in their immediate locale, although the Stoll site will likely be indispensable if the full scale of their ambitions is to be realised.

New owner Todd Boehly has enlisted architect Jane Marie Smith to begin drawing up preliminary designs for redevelopment.

Chelsea currently earn around £70m annually through the turnstiles, the lowest of any of the so-called Big Six clubs.

By contrast, Tottenham and Man United generally aim to generate upwards of £120m per year from their respective stadiums.

In other news, pundit “100 per cent” sure on Christian Pulisic’s future after “huge” Newcastle United update.