World News

Chelsea shelve Stamford Bridge project over ‘unfavourable investment climate’

Chelsea shelve Stamford Bridge project over ‘unfavourable investment climate’

However, the British media has been quick to link putting the plan on hold to the current impasse in which the club's owner Roman Abramovich has been denied a visa on his Russian passport so that he has not been able to enter the United Kingdom for the past two months.

The cost has apparently risen to a whopping £1 Billion and has been beset with delays, which included a dispute with a family located very close to the Stadium.

Chelsea Football Club announced today that it has put its new stadium project on hold.

Although the "unfavorable investment climate" could be a reference to Brexit, it is thought more likely that it is due to Theresa May's government's stance on Russian investors in the wake of the Skripal case. "No further pre-construction design and planning work will occur", a statement said.

More news: Bale stars but no Ronaldo in Madrid kit launch

No further design and planning work will take place on the project, which was greenlit by Hammersmith and Fulham Council as well as Mayor of London Sadiq Khan but has since run into a number of difficulties.

Swiss architects Herzog and de Meuron, who built the Allianz Arena in Munich, the Bird's Nest in Beijing and other iconic stadiums, had won the tender to revamp Stamford Bridge. Chelsea does not have a time frame for reconsidering its decision, according to a statement on the club's website.

A temporary move to Wembley Stadium was mooted. The current stadium capacity is around 42,000. They are presently only authorised to fill 57,000.


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