By Kieran Maguire

7th Nov, 2022 | 8:59am

Kieran Maguire: 'Desperate' Chelsea to pay 'well above market price' after source's £50m reveal

Chelsea may well end up paying “well above market price” for a plot of land adjacent to Stamford Bridge.

That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the 1.9-acre site which the Blues need to facilitate the expansion of their 41,000-seater stadium.

Chelsea have long eyed a revamp of their West London home but have been limited by their geography, with their immediate surroundings not able to accommodate a huge construction project.

They do, however, already own a large strip of land next to the stadium and are now eyeing a smaller plot which would give them enough space to redevelop the arena.

A source told Football Insider last Thursday (3 November) that the site has now gone on sale, with at least two other parties interested in a deal that could be worth in excess of £50million.

Maguire forecasts that Chelsea could end up paying over the odds if recent history is anything to go off.

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Chelsea are to a certain extent between the devil and the deep blue sea,” he told Football Insider’s Adam Williams.

Having a capacity of only 41,000 means that they are significantly behind their peer group in London, Liverpool and Manchester.

That will have an impact on the club, especially as the new UEFA financial and sustainability rules are likely to form the basis of the revised Premier League FFP arrangement.

Any stadium expansion is likely to target the prawn sandwich brigade in terms of much higher prices for match tickets and commercial/hospitality offerings.

The downside for Chelsea is that because there are other parties involved in the auction, desperation could force Chelsea to pay a price which is perhaps well more than the market price.

But given what they paid for Marc Cucurella, perhaps this shouldn’t be a surprise. It is something they have got into the habit of doing.

In other news, medical Insider suggests Reece James and Chelsea teammate set for “huge” hidden boost after confirmed news.