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Chelsea and Newcastle United have similar problems

Newcastle boss Mike Ashley has invested over £100m into Newcastle United and like Roman Abramovich at Chelsea the supporters still do not give both men the respect they deserve.

Chelsea approached supporters to buy back the freehold to Stamford Bridge which was sold to a supporters’ group in the mid-1990s to prevent the threat of property developers acquiring the land. However, some fans believe the Abramovich would make a financial gain by moving to a new stadium which has been denied by club chairman Bruce Buck.

“To build a new stadium of 55,000 to 60,000 seats would cost in the region of £450 million which with the land, would total maybe £500 million to £550 million,” Buck told Chelsea TV.

“The profit on the redevelopment of Stamford Bridge would be maybe a third of that amount, and money from other sources such as Mr Abramovich and banks would be needed to move to another location.”

He added: “The profits would be an important component of the funds should we would need them so it would not be possible to do it without taking that redevelopment money. There is no possibility for Mr Abramovich to make any money.” Buck went on to say that Abramovich had invested £800m into the club.

“A figure of £500 million for a new stadium is a lot of money no matter who you are, and the decision has been made that we're not going to move to another stadium unless we can take the proceeds of a redevelopment of Stamford Bridge towards it,” he said.

TD

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