“There Is No Possibility For Mr Abramovich To Make Any Money”

By on October 18, 2011

Chelsea chairman Bruce Buck insists Roman Abramovich would not make a financial gain from the club moving to a new stadium.

Chelsea have already started the process of attempting to buy back the freehold to Stamford Bridge, which was sold to a supporters’ group in the mid-1990s to stave off the threat of property developers acquiring the land.

Speculation has suggested the Russian billionaire is looking to profit from his huge investment in the club, however, Buck refutes the claim and insists that Abramovich does not have a personal financial motivation behind the proposal, reports Sport Business.

“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 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.

“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.

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  1. Pingback: Chelsea chairman increased CPO shareholding to voting max this year – Fulham Chronicle | Chelsea Football Club Stuff

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