Chelsea suspend new stadium plans due to 'unfavourable investment climate'
- Author: Stacy Allen Jun 02, 2018,
Jun 02, 2018, 10:45
However, Chelsea announced Thursday that it would put on hold plans to build a new stadium in London because of the "unfavorable investment climate".
Chelsea is yet to comment on the future at the Premier League club for Abramovich, who this week flew to Israel to receive Israeli citizenship. No further pre-construction design and planning work will occur.
Chelsea had been planning an extensive redevelopment of their Stamford Bridge stadium, including increasing the capacity to 60,000.
Abramovich has overseen more than $1 billion in spending since taking over Chelsea in 2003, turning the team into a force that has won five Premier League titles and the Champions League.
The club claim that the plans have been put on hold due to "the current unfavourable investment climate".
Could Abramovich walk away from Chelsea?
The incredible situation playing out at Stamford Bridge leaves supporters fearing the Blues are stuck in limbo and falling behind their rivals both off and on the pitch, despite Chelsea's insistence that Abramovich remains committed to the club.
But Downing Street confirmed on Tuesday the oligarch, who is worth £9.3bn and ranked 13th on the Sunday Times Rich List, is not allowed to work as an Israeli without a visa.
Another supporter recoiled in horror after reading rumours that Avram Grant could be a potential candidate to replace Conte.
But Theresa May has since said it is prudent for the Government to look at whether this particular part of the UK's visa regime is being used "properly". Despite this loophole, the situation has soured Abramovich's opinion of the United Kingdom and complicated his position at Chelsea.