Chelsea shelve plans for new stadium

Jun 01, 2018, 16:36
Chelsea shelve plans for new stadium

However, earlier today the club announced that "it has put its new stadium project on hold".

Russian billionaire Roman Abramovich scrapped plans for a major revamp of Chelsea Football Club's stadium, days after the renewal of his United Kingdom visa was delayed.

Chelsea football club has announced it is shelving plans for a new stadium on the present Stamford Bridge site. Chelsea does not have a time frame for reconsidering its decision, according to a statement on the club's website.

The club released a statement suggesting that plans to increase the capacity of the stadium to 60,000 will be postponed due to the "current unfavourable investment climate".

Britain's interior minister said in March that the government would look retrospectively at visas issued to wealthy foreign investors and consider whether action needs to be taken, and Prime Minister Theresa May has said it is right to see whether visas were being used properly.

He is reportedly unwilling to put money into a country he is not allowed to work in, following a clampdown by the Home Office on individuals who hold what is known as a "golden visa", which permits anyone who has invested more than £2m in the British economy to stay in the country for 40 months.

On Thursday, insiders maintained that their Russian owner has no desire to walk away from Chelsea after overseeing an unprecedented era of success for the club, including a Champions League victory and five Premier League titles.

Abramovich bought Chelsea in 2003, and proceeded to plow millions into the development of the team.

Stamford Bridge now holds 41,663, which puts significant pressure on Chelsea when trying to satisfy Financial Fair Play rules and compete with their rivals, all of whom have bigger stadiums, in the transfer market.

Chelsea are expected to move into gear when director Marina Granovskaia returns from a break next week but Sarri no longer appears to be first choice to succeed Conte amid concerns about his past.

Chelsea's new stadium plans had been given the go-ahead by Hammersmith and Fulham Council as well as Sadiq Khan, Mayor of London, but had run into a number of difficulties surrounding the proposed build and associated costs.

Sarri's situation is complicated by Napoli claiming to still have him under contract, despite appointing Carlo Ancelotti as manager.