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1 | Costs & Revenue Estimate - Stamford Bridge Rebuilt 55,000 Stadium | Stamford Bridge Rebuilt 55,000 Stadium Matthew Harding Extension Club Estimate | Stamford Bridge Rebuilt 55,000 Stadium Shed End Extension Club Estimate | Stamford Bridge Rebuilt 55,000 Stadium Club Estimate | Stamford Bridge Rebuilt 55,000 Stadium Investment Level for NPV>0 | ||||||||||||||||||||
2 | n.b. These are almost all club figures from the Future of Stamford Bridge report. | Investment | £177,000,000 | Investment | £98,000,000 | Investment | £275,000,000 | Investment | £109,000,000 | ||||||||||||||||
3 | One-Off Income (£ millions) | MHS | Shed | TOTAL | Comments | Annual Revenue | £8,000,000 | Annual Revenue | £3,000,000 | Annual Revenue | £11,000,000 | Annual Revenue | £11,000,000 | ||||||||||||
4 | TOTAL PROJECT INCOME | 0 | 0 | 0 | There is no one-off income at all in this scenario. | Discount Rate | 10% | Discount Rate | 10% | Discount Rate | 10% | Discount Rate | 10% | ||||||||||||
5 | One-Off Costs (£ millions) | MHS +8K seats | Shed + 5K seats | TOTAL | Comments | IRR | 3.83% | IRR | 1.82% | IRR | 3.15% | IRR | 10.01% | ||||||||||||
6 | Deck over LUL (working hours) | 20 | 0 | 20 | This is the line to Fulham Broadway, north of the MHS | NPV | -£88,801,349 | NPV | -£62,050,506 | NPV | -£150,851,855 | NPV | £57,236 | ||||||||||||
7 | Acquire properties for Shed End | 0 | 37 | 37 | Assumed that these are the hotel & apartments directly behind the Shed End. | Payback Period (Years) | 22.13 | Payback Period (Years) | 32.67 | Payback Period (Years) | 25.00 | Payback Period (Years) | 9.91 | ||||||||||||
8 | Acquire properties for Matthew Harding Stand | 20 | 0 | 20 | Three blocks on Brompton Park Crescent. | Cost per seat (£) | £22,125 | Cost per seat (£) | £19,600 | Cost per seat (£) | £21,154 | Cost per seat (£) | £8,385 | ||||||||||||
9 | New Egress Routes via Old Clinic / Network Rail / WLL | 25 | 5 | 30 | Exit to Seagrave Road and via the West London Line (presumably requiring the line to be fully/partially decked over). | Year | Year | Year | Year | ||||||||||||||||
10 | Acquire properties to the West | 40 | 0 | 40 | Assume this is the purchase of the Sir Oswald Stoll Foundation site | 0 | -£177,000,000 | 0 | -£98,000,000 | 0 | -£275,000,000 | 0 | -£109,000,000 | ||||||||||||
11 | Fees and Stamp Duty (£ millions) | 7 | 7 | 14 | Assume this is for the purchase of the various additional properties. | 1 | £8,000,000 | £8,000,000 | 1 | £3,000,000 | £3,000,000 | 1 | £11,000,000 | £11,000,000 | 1 | £11,000,000 | £11,000,000 | ||||||||
12 | Demolition Costs (£ millions) | 0 | 5 | 5 | Speaks for itself. | 2 | £8,000,000 | £16,000,000 | 2 | £3,000,000 | £6,000,000 | 2 | £11,000,000 | £22,000,000 | 2 | £11,000,000 | £22,000,000 | ||||||||
13 | Build Costs (£5K per seat) | 40 | 25 | 65 | A handy baseline estimate for build costs I suspect but not much more than that. | 3 | £8,000,000 | £24,000,000 | 3 | £3,000,000 | £9,000,000 | 3 | £11,000,000 | £33,000,000 | 3 | £11,000,000 | £33,000,000 | ||||||||
14 | Disruption Costs (£ millions) Closure of MH Stand for 2 seasons (11K seats x £1K per seat x 2) Closure of Shed End for 2 seasons (7K seats x £1K per seat x 2) | 22 | 15 | 37 | This is an odd figure as it doesn't match the matchday income per seat (which is over £1600) but I suppose it may be a useful figure for baseline estimates of income per seat. | 4 | £8,000,000 | £32,000,000 | 4 | £3,000,000 | £12,000,000 | 4 | £11,000,000 | £44,000,000 | 4 | £11,000,000 | £44,000,000 | ||||||||
15 | Refit megastore | 0 | 2 | 2 | Speaks for itself. | 5 | £8,000,000 | £40,000,000 | 5 | £3,000,000 | £15,000,000 | 5 | £11,000,000 | £55,000,000 | 5 | £11,000,000 | £55,000,000 | ||||||||
16 | Community Infrastructure Levy (CIL) @ £50 sqm | 3 | 2 | 5 | Suggests a build of 60K sqm for the new MHS & 40K sqm for the new Shed End. | 6 | £8,000,000 | £48,000,000 | 6 | £3,000,000 | £18,000,000 | 6 | £11,000,000 | £66,000,000 | 6 | £11,000,000 | £66,000,000 | ||||||||
17 | Contingency | ? | ? | ? | Unsure why none suggested. Maybe the New Build contingency would be higher. | 7 | £8,000,000 | £56,000,000 | 7 | £3,000,000 | £21,000,000 | 7 | £11,000,000 | £77,000,000 | 7 | £11,000,000 | £77,000,000 | ||||||||
18 | TOTAL PROJECT EXPENDITURE | 177 | 98 | 275 | All these figures are fairly rounded which suggests that they're not exactly accurate. | 8 | £8,000,000 | £64,000,000 | 8 | £3,000,000 | £24,000,000 | 8 | £11,000,000 | £88,000,000 | 8 | £11,000,000 | £88,000,000 | ||||||||
19 | Marginal Revenue (£ millions) | MHS | Shed | TOTAL | 9 | £8,000,000 | £72,000,000 | 9 | £3,000,000 | £27,000,000 | 9 | £11,000,000 | £99,000,000 | 9 | £11,000,000 | £99,000,000 | |||||||||
20 | Stadium Naming (£ millions) | 0 | 0 | 0 | Note that I have given zero here on the basis that it would not be any more possible to sell naming rights based on a bigger SB than it is currently. If the club is able to sell naming rights for SB then they will do so regardless of the expansion. | 10 | £8,000,000 | £80,000,000 | 10 | £3,000,000 | £30,000,000 | 10 | £11,000,000 | £110,000,000 | 10 | £11,000,000 | £110,000,000 | ||||||||
21 | Additional Matchday Income (£ millions) | 8 | 3 | 11 | These are club figures but it is not clear why 5K additional seats in the Shed only generate an additional £3m a season in additional revenue. | 11 | £8,000,000 | £88,000,000 | 11 | £3,000,000 | £33,000,000 | 11 | £11,000,000 | £121,000,000 | 11 | £11,000,000 | £121,000,000 | ||||||||
22 | TOTAL REVENUE (per annum) | 8 | 3 | 11 | As the additional income is much smaller than with the other scenarios it obviously impacts on the viability of the scheme. | 12 | £8,000,000 | £96,000,000 | 12 | £3,000,000 | £36,000,000 | 12 | £11,000,000 | £132,000,000 | 12 | £11,000,000 | £132,000,000 | ||||||||
23 | 13 | £8,000,000 | £104,000,000 | 13 | £3,000,000 | £39,000,000 | 13 | £11,000,000 | £143,000,000 | 13 | £11,000,000 | £143,000,000 | |||||||||||||
24 | 14 | £8,000,000 | £112,000,000 | 14 | £3,000,000 | £42,000,000 | 14 | £11,000,000 | £154,000,000 | 14 | £11,000,000 | £154,000,000 | |||||||||||||
25 | 15 | £8,000,000 | £120,000,000 | 15 | £3,000,000 | £45,000,000 | 15 | £11,000,000 | £165,000,000 | 15 | £11,000,000 | £165,000,000 | |||||||||||||
26 | 16 | £8,000,000 | £128,000,000 | 16 | £3,000,000 | £48,000,000 | 16 | £11,000,000 | £176,000,000 | 16 | £11,000,000 | £176,000,000 | |||||||||||||
27 | 17 | £8,000,000 | £136,000,000 | 17 | £3,000,000 | £51,000,000 | 17 | £11,000,000 | £187,000,000 | 17 | £11,000,000 | £187,000,000 | |||||||||||||
28 | 18 | £8,000,000 | £144,000,000 | 18 | £3,000,000 | £54,000,000 | 18 | £11,000,000 | £198,000,000 | 18 | £11,000,000 | £198,000,000 | |||||||||||||
29 | 19 | £8,000,000 | £152,000,000 | 19 | £3,000,000 | £57,000,000 | 19 | £11,000,000 | £209,000,000 | 19 | £11,000,000 | £209,000,000 | |||||||||||||
30 | 20 | £8,000,000 | £160,000,000 | 20 | £3,000,000 | £60,000,000 | 20 | £11,000,000 | £220,000,000 | 20 | £11,000,000 | £220,000,000 | |||||||||||||
31 | 21 | £8,000,000 | £168,000,000 | 21 | £3,000,000 | £63,000,000 | 21 | £11,000,000 | £231,000,000 | 21 | £11,000,000 | £231,000,000 | |||||||||||||
32 | 22 | £8,000,000 | £176,000,000 | 22 | £3,000,000 | £66,000,000 | 22 | £11,000,000 | £242,000,000 | 22 | £11,000,000 | £242,000,000 | |||||||||||||
33 | 23 | £8,000,000 | £184,000,000 | 23 | £3,000,000 | £69,000,000 | 23 | £11,000,000 | £253,000,000 | 23 | £11,000,000 | £253,000,000 | |||||||||||||
34 | 24 | £8,000,000 | £192,000,000 | 24 | £3,000,000 | £72,000,000 | 24 | £11,000,000 | £264,000,000 | 24 | £11,000,000 | £264,000,000 | |||||||||||||
35 | 25 | £8,000,000 | £200,000,000 | 25 | £3,000,000 | £75,000,000 | 25 | £11,000,000 | £275,000,000 | 25 | £11,000,000 | £275,000,000 | |||||||||||||
36 | 26 | £8,000,000 | £208,000,000 | 26 | £3,000,000 | £78,000,000 | 26 | £11,000,000 | £286,000,000 | 26 | £11,000,000 | £286,000,000 | |||||||||||||
37 | 27 | £8,000,000 | £216,000,000 | 27 | £3,000,000 | £81,000,000 | 27 | £11,000,000 | £297,000,000 | 27 | £11,000,000 | £297,000,000 | |||||||||||||
38 | 28 | £8,000,000 | £224,000,000 | 28 | £3,000,000 | £84,000,000 | 28 | £11,000,000 | £308,000,000 | 28 | £11,000,000 | £308,000,000 | |||||||||||||
39 | 29 | £8,000,000 | £232,000,000 | 29 | £3,000,000 | £87,000,000 | 29 | £11,000,000 | £319,000,000 | 29 | £11,000,000 | £319,000,000 | |||||||||||||
40 | 30 | £8,000,000 | £240,000,000 | 30 | £3,000,000 | £90,000,000 | 30 | £11,000,000 | £330,000,000 | 30 | £11,000,000 | £330,000,000 | |||||||||||||
41 | 31 | £8,000,000 | £248,000,000 | 31 | £3,000,000 | £93,000,000 | 31 | £11,000,000 | £341,000,000 | 31 | £11,000,000 | £341,000,000 | |||||||||||||
42 | 32 | £8,000,000 | £256,000,000 | 32 | £3,000,000 | £96,000,000 | 32 | £11,000,000 | £352,000,000 | 32 | £11,000,000 | £352,000,000 | |||||||||||||
43 | 33 | £8,000,000 | £264,000,000 | 33 | £3,000,000 | £99,000,000 | 33 | £11,000,000 | £363,000,000 | 33 | £11,000,000 | £363,000,000 | |||||||||||||
44 | 34 | £8,000,000 | £272,000,000 | 34 | £3,000,000 | £102,000,000 | 34 | £11,000,000 | £374,000,000 | 34 | £11,000,000 | £374,000,000 | |||||||||||||
45 | 35 | £8,000,000 | £280,000,000 | 35 | £3,000,000 | £105,000,000 | 35 | £11,000,000 | £385,000,000 | 35 | £11,000,000 | £385,000,000 | |||||||||||||
46 | 36 | £8,000,000 | £288,000,000 | 36 | £3,000,000 | £108,000,000 | 36 | £11,000,000 | £396,000,000 | 36 | £11,000,000 | £396,000,000 | |||||||||||||
47 | 37 | £8,000,000 | £296,000,000 | 37 | £3,000,000 | £111,000,000 | 37 | £11,000,000 | £407,000,000 | 37 | £11,000,000 | £407,000,000 | |||||||||||||
48 | 38 | £8,000,000 | £304,000,000 | 38 | £3,000,000 | £114,000,000 | 38 | £11,000,000 | £418,000,000 | 38 | £11,000,000 | £418,000,000 | |||||||||||||
49 | 39 | £8,000,000 | £312,000,000 | 39 | £3,000,000 | £117,000,000 | 39 | £11,000,000 | £429,000,000 | 39 | £11,000,000 | £429,000,000 | |||||||||||||
50 | 40 | £8,000,000 | £320,000,000 | 40 | £3,000,000 | £120,000,000 | 40 | £11,000,000 | £440,000,000 | 40 | £11,000,000 | £440,000,000 | |||||||||||||
51 | 41 | £8,000,000 | £328,000,000 | 41 | £3,000,000 | £123,000,000 | 41 | £11,000,000 | £451,000,000 | 41 | £11,000,000 | £451,000,000 | |||||||||||||
52 | 42 | £8,000,000 | £336,000,000 | 42 | £3,000,000 | £126,000,000 | 42 | £11,000,000 | £462,000,000 | 42 | £11,000,000 | £462,000,000 | |||||||||||||
53 | 43 | £8,000,000 | £344,000,000 | 43 | £3,000,000 | £129,000,000 | 43 | £11,000,000 | £473,000,000 | 43 | £11,000,000 | £473,000,000 | |||||||||||||
54 | 44 | £8,000,000 | £352,000,000 | 44 | £3,000,000 | £132,000,000 | 44 | £11,000,000 | £484,000,000 | 44 | £11,000,000 | £484,000,000 | |||||||||||||
55 | 45 | £8,000,000 | £360,000,000 | 45 | £3,000,000 | £135,000,000 | 45 | £11,000,000 | £495,000,000 | 45 | £11,000,000 | £495,000,000 | |||||||||||||
56 | 46 | £8,000,000 | £368,000,000 | 46 | £3,000,000 | £138,000,000 | 46 | £11,000,000 | £506,000,000 | 46 | £11,000,000 | £506,000,000 | |||||||||||||
57 | 47 | £8,000,000 | £376,000,000 | 47 | £3,000,000 | £141,000,000 | 47 | £11,000,000 | £517,000,000 | 47 | £11,000,000 | £517,000,000 | |||||||||||||
58 | 48 | £8,000,000 | £384,000,000 | 48 | £3,000,000 | £144,000,000 | 48 | £11,000,000 | £528,000,000 | 48 | £11,000,000 | £528,000,000 | |||||||||||||
59 | 49 | £8,000,000 | £392,000,000 | 49 | £3,000,000 | £147,000,000 | 49 | £11,000,000 | £539,000,000 | 49 | £11,000,000 | £539,000,000 | |||||||||||||
60 | 50 | £8,000,000 | £400,000,000 | 50 | £3,000,000 | £150,000,000 | 50 | £11,000,000 | £550,000,000 | 50 | £11,000,000 | £550,000,000 | |||||||||||||