Kieran Maguire: ‘The sky is the limit’ for Chelsea as FFP dodge revealed
Chelsea can “spend whatever they want” on land which will allow them to expand Stamford Bridge as infrastructure costs do not count towards Financial Fair Play quotas.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the Blues’ long-held ambitions to boost capacity at their West London home.
The Daily Mail reported on Sunday (9 September) that the Todd Boehly regime has registered their interest in a 1.2-acre site adjacent to Stamford Bridge.
The acquisition of the plot would allow Chelsea to expand their West Stand.
It is claimed that property developers are also interested in buying the £50million-valued site to build apartments.
Maguire claims that, while a bidding war is likely, Chelsea should have the financial fire power to buy the land.
“Chelsea can spend as much as they want in respect of the land next to Stanford Bridge,” he told Football Insider’s Adam Williams.
“The reason for this is that infrastructure spend is exempt from Financial Fair Play in its present guise. So, to a certain extent, the sky is the limit.
“But Chelsea do also have to take into consideration the fact that there will be property developers who will also see the potential riches than can be generated from real estate in one of the most desirable areas in London.
“It looks like there is going to be a bidding war. The price of apartments are stratospheric and generate a return on investment on a much more regular basis than a football ground which is only open 25 to 30 days per year.
“Chelsea are the sixth biggest of the Big Six and that is reflected to a certain extent in their matchday income. When we move to a wage cap this is linked to overall income, they are going to have to think smarter or struggle to compete.”
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