May 31, 2018 / 12:33 PM / 7 months ago

Soccer-Chelsea suspends new stadium plans due to unfavourable investment climate

LONDON, May 31 (Reuters) - Chelsea Football Club said on Thursday that work on its new stadium in London would be suspended indefinitely, citing the unfavourable investment climate.

The soccer club did not say if the decision was related to owner Roman Abramovich’s struggles to get a new British visa. He reportedly took Israeli citizenship earlier this week.

“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,” Chelsea said in a statement.

“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.” (Reporting by Alistair Smout; editing by Guy Faulconbridge)

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