Roman Abramovich quit rumours denied by Chelsea

With a capacity of 41,631 Stamford Bridge is the eighth-largest Premier League stadium

Chelsea Football Club has put its ambitious London stadium redevelopment plans on hold, citing an unfavorable investment environment.

The news comes amid United Kingdom visa issues for billionaire Chelsea owner Abramovich, who has had his permission to enter the country delayed by the British authorities.

The businessman reportedly took Israeli citizenship this week after finding himself without a visa to Britain, where he owns the London-based Chelsea football club. "Mr Abramovich doesn't hold an official position at Chelsea FC despite owning the club", the news agency says.

The club released a statement suggesting that plans to increase the capacity of the stadium to 60,000 will be postponed due to the "current unfavourable investment climate".

As an Israeli national, Abramovich is able to enter the country without applying for a visa, but there are restrictions on the number of visits that he can make and limitations on the work he can do while in the country.

The Jerusalem Post quoted an ally of Abramovich as saying: "He understands and respects that the United Kingdom are reviewing their processes and has therefore chosen to withdraw until a new process is in place".

"He will want to clarify any misunderstanding and speculations".

Reports from the Times claim that the Russian plans to sell the club at the rate of KSh 156.7 billion to make up for the money he has spent at the club in the last 15 years.

"He has completed the process as far as I know and has moved and is living in Israel and has received an Israeli passport", Koren said in a Russian-language interview with the Echo of Moscow radio station.

Could Abramovich walk away from Chelsea?

Former Chelsea midfielder Mikel John Obi is confident Roman Abramovich remains committed to the club.

Chelsea finished the season fifth in the Premier League table and won the FA Cup.

Another supporter recoiled in horror after reading rumours that Avram Grant could be a potential candidate to replace Conte.

Chelsea are interested in Robert Lewandowski, Anthony Martial, Christian Pulisic and Jean Seri, but have doubts over the futures of Eden Hazard, Thibaut Courtois and Alvaro Morata.

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