Abramovich shelves £1bn Chelsea stadium scheme

New Stamford Bridge

Chelsea Woes Deepen As They Suspend Stadium Project

Chelsea have ditched plans to build a new 60,000-seater stadium due to what they call an "unfavourable investment climate".

Chelsea owner, Roman Abramovich, has shelved the club's £1billion new stadium plans.

Abramovich has since moved to Tel Aviv after being granted Israeli citizenship, which allows him to visit the United Kingdom for six month periods without a visa.

A club statement read: "The club has put its new stadium project on hold".

News has broken today that Chelsea has made a decision to suspend their plans for a new stadium because of an "unfavourable investment climate".

His surprise move yesterday was interpreted as a response to being denied a new United Kingdom visa by the Home Office.

Reports from the Times claim that the Russian plans to sell the club at the rate of KSh 156.7 billion to make up for the money he has spent at the club in the last 15 years.

According to Channel 10 television in Israel, Abramovich recently flew to Tel Aviv and became a citizen after the delay in his British application.

Construction for a Tottenham Hotspur's stadium of roughly the same capacity is also under way.

He acquired Chelsea FC in 2003, and has had many milestones of success since, including a 2012 victory in the Champions League.

Chelsea are thought to be operating as normal, despite Abramovich's visa concerns.

There is uncertainty about who will lead the first team going forward as manager Antonio Conte is set to be sacked later this month.

A clause in Sarri's contract that would allow him to leave Napoli for £7m expires at midnight on Thursday, but Chelsea have so far been unmoved by that particular deadline.

The state of limbo is a huge concern to fans who have seen Arsenal replace Arsene Wenger with Unai Emery and Liverpool complete the signing of Fabinho from Monaco.

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