The problem is, obviously, they need all the residents to agree to it, or it doesn't work (insert that photo of the single house in China with the motorway surrounding it).
And then, the club would not want to rent out the houses they had bought, as they're just going to end up with renters with rights, another inconvenience. They just wouldn't do it, they'd leave them empty, and that's the gateway to pulling the sort of shit Liverpool did.
I am not sure what the answer is other than lose that park area for the road, and build out there, but I'm not sure how feasible that is.