Chelsea postpones new stadium plans due to 'unfavourable investment climate'

Chelsea Football Club has postponed plans for the £500m redevelopment of Stamford Bridge.

In December 2015, the Premier League club unveiled proposals to to build a new 60,000 seat stadium on the site of Stamford Bridge, with a completely new design.

In January 2017, Hammersmith and Fulham Council approved the plans for a new stadium which was expected to be completed in time for the 2021/22 season.

On Thursday (May 31st), however, Chelsea announced that these plans are now being put “on hold.”

The club released a statement, which read: “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 decision was made due to the current unfavourable investment climate.”

Stamford Bridge currently has a capacity of 41,631, making it the eighth largest ground in the 2017–18 Premier League season.