Chelsea football club has announced it is shelving plans for a new stadium on the present Stamford Bridge site.
The new stadium was announced in December 2015, and would have increased capacity from 41,600 to 60,000.
However, earlier today the club announced that “it has put its new stadium project on hold. No further pre-construction design and planning work will occur.”
The club said that it does not have an update on the time frame to reconsider the decision, and that the decision was made “due to the current unfavourable investment climate.”
The football club had already received planning permission for the new west London stadium with Mayor Sadiq Khan calling it a “jewel in London’s sporting crown”.
The disappointing news for Chelsea fans comes as the club's billionaire owner, Roman Abramovich, remains in limbo over his UK visa status.
Earlier this week, Abramovich flew to Israel to gain Israeli citizenship after apparently struggling to renew his British visa.
The troubles for Abramovich began amid a straining in relations between Downing Street and the Kremlin following the poisoning of former Russian spy Sergei Skripal and his daughter in Salisbury in March.