Sadiq Khan, the Mayor of London, has given Chelsea FC the green light to build a new £500m (US$612.9m, €579.1m) stadium on the site of Stamford Bridge.

Khan said he was satisfied with the 60,000-capacity stadium’s “high-quality and spectacular design”, which was approved by Hammersmith and Fulham Council in January.

As part of Chelsea’s submission, the Premier League club has committed to investing £12m in community activities, such as employment and training skills, as well as £3.75m towards “affordable” housing.

“Having taken a balanced view of the application,” said Khan, “ I am 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.

“I’m confident this new stadium will be a jewel in London’s sporting crown and will attract visitors and football fans around the world.”

A statement made by Chelsea FC said: “We are delighted Sadiq Khan has chosen to support the council’s decision.

“Further steps lie ahead, both during and after the planning process, before construction work can commence. We continue to collaborate with all stakeholders and will keep you informed of progress made.”

Swiss studio Herzog & de Meuron are the architects behind the design.