The uncertainty surrounding Roman Abramovich’s ownership of Chelsea deepened on Thursday when the Premier League club abruptly halted plans to build a new stadium, citing an unfavourable climate to invest in the £500 million ($665 million) project.
Chelsea is yet to comment on Abramovich’s future at the Premier League Club.
As reported by AP, the statement announcing the suspension of the Stamford Bridge redevelopment project pointed to concerns about Chelsea’s willingness to invest in a new 60,000-seat stadium. Planning approval had already been received from local authorities to replace the existing 41,000-capacity venue on the west London site, but the club says it has “put its new stadium project on hold.”
Chelsea stated: “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 decision was made due to the current unfavourable investment climate.”