MX23RW : Saturday, July 21 10:08:09

Roman Abramovich 'holds £500m Chinese investment talks'

Chelsea owner Roman Abramovich reportedly holds talks with a Chinese investment firm over a £500m deal to fund the redevelopment of Stamford Bridge.

Chelsea owner Roman Abramovich has allegedly held talks with a Chinese firm over a £500m investment plan.

The Russian businessman is estimated to have spent £1 billion of his personal wealth on the Blues since he acquired the club in 2003, a tenure that has seen them win the Premier League five times, the Champions League and the Europa League, as well as four FA Cups and three League Cups.

Abramovich also has ambitious plans to demolish Stamford Bridge and build a new 60,000-seater stadium in its place in a project that will cost around £500m.

According to The Sun, Abramovich is not prepared to sell a stake in the club in exchange for investment but has held talks with a Chinese firm over a deal that would see them fund the cost of the new Stamford Bridge and be repaid in the years that follow.

The redevelopment project was given the green light by London mayor Sadiq Khan earlier this year, with hopes that construction can be completed in time for the 2021-22 season.

When Tottenham Hotspur's new White Hart Lane opens at the start of next season, Stamford Bridge will be the smallest of the 'big three' club stadiums in London with a capacity of just under 42,000.

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Fans arrive at Stamford Bridge prior to the FA Cup game between Chelsea and Manchester City on February 20, 2016
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