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.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.