Blues halt stadium plans over cash woes
Print Edition
ENGLISH Premier League club Chelsea, whose Russian owner Roman Abramovich has faced delays in having his UK visa renewed, said yesterday that work on its new stadium in London would be suspended indefinitely because of the unfavorable investment climate.
In a statement, the club did not say whether the decision was related to the visa problems of Abramovich, who has reportedly taken Israeli citizenship earlier this week.
“Chelsea Football Club announces today that it has put its new stadium project on hold. No further pre-construction design and planning work will occur,” the club website statement said.
“The club does not have a time frame set for reconsideration of its decision,” it added. “The decision was made due to the current unfavorable investment climate.”
The Blues were planning to build a new 60,000-seat stadium at their current home in Stamford Bridge, west London. The current stadium capacity is around 42,000.
Last year, London mayor Sadiq Khan approved the 500-million pound (US$668 million) redevelopment, although the estimated cost of the project has risen since.
EPL winner in 2016/17, Chelsea missed out on UEFA Champions League football by finishing fifth this year, and there is substantial uncertainty around the future of manager Antonio Conte.
Abramovich bought Chelsea in 2003, since when the club has won five EPL titles, five FA Cups and one UCL during the most successful spell in the club’s 113-year history.
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