Chelsea billionaire owner Todd Boehly has confirmed his commitment to a massive redevelopment of Stamford Bridge, despite fears of potentially moving the club elsewhere.

Stamford Bridge is significantly smaller than the rest of the ‘Big Six’ in the Premier League and various reports had claimed the board have considered various options like redeveloping Stamford Bridge or moving away to build another stadium.

Boehly has now promised the stadium freeholder that he will be expanding Stamford Bridge as opposed to leaving.

The shareholder group that owns the London club’s stadium freehold, Chelsea Pitch Owners, said: “The new owners have committed to redevelopment of the stadium.

“So it is anticipated the group’s workload will increase as this project begins to take shape.”

Chelsea co-owner Jonathan Goldstein has previously revealed plans to redevelop Stamford Bridge next year.

He said: “We are looking very heavily at redevelopment… the planning process is something which we will start during the course of the next year and we’ll hope central government will get behind it and see it as an engine for growth.

“The only problem, of course, is the management of interest rates because it makes it so much more expensive to develop.”

When asked if the club would delay the process, he responded: “No, no, we’ll carry on as fast and as hard as we can.

“It is a big project and there are very many constituents involved and we are at the beginning. But we will carry on because we believe in the business, in Chelsea FC and the area and we know, over time, Stamford Bridge needs redevelopment.”

He added: “We’ve had three sovereign wealth funds say to us at the moment, the United Kingdom is on hold. They’d rather watch, and watch and wait. Britain looks uninvestable at this point.”