“Unfavourable investment climate” puts new Chelsea stadium on hold

Chelsea has announced redevelopment plans for a new 60,000-seater stadium are on hold for an indefinite period after citing a troubling financial climate.

The club first unveiled plans to build a new stadium on the site of Stamford Bridge in December 2015. A move which would see capacity increase from its current 41,600 to 60,000. The new stadium was meant to be completed in time for the 2021/22 season, with planning approval secured from Hammersmith and Fulham council in January.

But those behind the plans have cast doubt over any new stadium construction happening anytime soon with plans being put on hold due to an “unfavourable investment climate”.

In a statement, the club said: "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 does not have a time frame set for reconsideration of its decision."

The development was projected to cost owner Roman Abramovich at least £500m. Like the club's London rival, Tottenham, plans were under consideration to move Chelsea matches to Wembley stadium for the four years it would take to redevelop Stamford Bridge.

The planned construction has not been without its delays and issues. In March, the club finally reached an out-of-court settlement with a resident living next to the stadium. Nicholas Crosthwaite had prevented plans developing after he complained the structure would block out sunlight on his family’s home.

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