Chelsea’s plans to build a brand-new £500 million ($612 million), 60,000-seat stadium to replace Stamford Bridge were approved by London Mayor Sadiq Khan early Monday.

London Mayor Approves Chelsea’s New Stadium

Martyn Ziegler of The Times posted a press release confirming Khan has green-lit the project, which would include an injection of £15.75 million ($19 million) across community activities and affordable housing in the area:

Chelsea, the Premier League leaders, have been based at Stamford Bridge since the club’s founding in 1905. The organization chose the venue as its home turf after it was opened in 1877.

Yahoo Sport UK’s Matt Lewis also confirmed the news of Mayor Khan’s approval on Monday in addition to images of the planned development, which will result in Stamford Bridge being converted into a state-of-the-art venue:

“Having taken a balanced view of the application, I’m satisfied this is a high-quality and spectacular design which will significantly increase capacity within the existing site, as well as ensuring fans can have easy access from nearby transport connections,” Khan said in a statement. “I’m confident this new stadium will be a jewel in London’s sporting crown and will attract visitors and football fans from around the world.”

The re-construction will raise Chelsea’s maximum attendance from the 41,631 they currently hold at Stamford Bridge.

As of today, Chelsea play in only the seventh-largest stadium in the Premier League, sitting behind Sunderland’s Stadium of Light (49,000 capacity) and West Ham United’s new Olympic Stadium (57,000 capacity).

Chelsea released the following statement after the mayor’s approval: “Following a review by the mayor of London, Sadiq Khan, we are delighted he has chosen to support the council’s decision. This is the latest significant step toward redevelopment of the stadium and the delivery of the extensive local community programme. Further steps lie ahead, both during and after the planning process, before construction work can commence.”

LIVERPOOL, ENGLAND – JANUARY 31: David Luiz of Chelsea celebrates scoring the opening goal during the Premier League match between Liverpool and Chelsea at Anfield on January 31, 2017 in Liverpool, England. (Photo by Clive Mason/Getty Images)

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