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Chelsea stadium cost rises to over £1bn

Chelsea have significantly increased the cost of redeveloping Stamford Bridge to more than £1bn, which would make it the most expensive stadium in Europe. This is double the £500m that was estimated when they received planning permission for the 60,000 capacity stadium. The cost of building Tottenham Hotspur's new ground has almost doubled to £800m.

Chelsea attribute the spiralling cost to the length and complexity of the build which will take five to six years compared with two at Tottenham. They will not vacate the stadium until 2020 when they will move to a temporary home for three or four years.

Chelsea have to build over the District Line and the Southern main line which pass close to Stamford Bridge. Their 'cathedral of football' will have a lavish external design.

Chelsea are talking to several investment banks about funding the project rather than relying solely on funds provided by Roman Abramovich. They will also attempt to sell a naming rights package that will retain Stamford Bridge in the title.

Chelsea are hopeful of securing a deal well in advance of moving into their new ground and are encouraging interested parties to submit bids before the end of the season, pointing out that an early agreement will give the naming rights partner several years of free publicity, as the new stadium will not be ready until 2023 or 2024.

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