Billionaire Abramovich Puts New Chelsea Stadium Project on Hold

Posted June 01, 2018

But the 51-year-old can not work in England and that has prompted him to put Chelsea's new stadium project on hold with no promise that it will be resurrected.

"No further pre-construction design and planning work will occur", Chelsea said in the statement.

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

Arsene Wenger's success in English football more or less stopped when Roman Abramovich took over Chelsea, and now his belated exit is laced with a deep irony.

Delays over his latest visa application renewal saw Abramovich miss Chelsea's FA Cup final victory over Manchester United earlier this month.

A spokesman for Abramovich was not immediately available for comment.

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Abramovich had planned to turn Stamford Bridge into a 60,000-seat stadium, at a cost believed to be close to £1 billion, the Guardian reported. It has not been confirmed that the Abramovich situation is the reason, but that is the assumption of most observers. It appears that the club have shelved plans to appoint Sarri over claims by former Inter boss Roberto Mancini that Sarri hurled homophobic insults at him during a touchline row in 2016.

The club have spent a lot of time and money looking at the possibility of either moving away or expanding Stamford Bridge, which only has a capacity of 41,000.

Only last week this newspaper posed that question to Chelsea amid rumours of possible investment from China and was met with a firm denial. He applied for a new one, but it was not granted.

But the Premier League club announced that the proposal has been put on ice - with no time frame given for the plans to move forwards again.

On Thursday, there were also reports that Chelsea had terminated contract talks with goalkeeper Thibaut Courtois.