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Chelsea's plans for Stamford Bridge redevelopment put on hold

Chelsea FC news Blues put new stadium project on hold

'The decision was made due to the current unfavourable investment climate'.

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

The club is owned by Russian oligarch Roman Abramovich.

- Vasco Cotovio contributed reporting.

The businessman reportedly took Israeli citizenship this week after finding himself without a visa to Britain, where he owns the London-based Chelsea football club.

Chelsea are thought to be operating as normal, despite Abramovich's visa concerns.

South Korea: North committed to 'complete' denuclearisation, summit with Trump
He said he expects the talks to go smoothly because Pyongyang and Washington both know what they want from each other. The US has banned its citizens from entering North Korea, which has a history of detaining US citizens.

He has also ensured that Chelsea remain debt-free, though holding company Fordstam Ltd was listed in the club's most recent accounts with £1.1bn of debt in the form of an interest-free loan from Abramovich, theoretically repayable on 18 months' notice.

Chelsea had originally planned to relocate from Stamford Bridge, but after plans failed to materialise they looked set to improve their current home.

The Jerusalem Post quoted an ally of Abramovich as saying: "He understands and respects that the United Kingdom are reviewing their processes and has therefore chosen to withdraw until a new process is in place".

With the Blues having unsuccessfully attempted to defend their Premier League title, and even failing to qualify for the Champions League, there are a number of question marks hanging over heads, in particular with manager Antonio Conte, and superstars Eden Hazard and Thibaut Courtois.

The club had confirmed plans to transform their home but costs had ballooned and Abramovich was looking for investors to fund half of the £1bn bill. 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. But The Sun also suggests that Zinedine Zidane could be a Chelsea target after the Frenchman quit Real Madrid yesterday.

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